Nokia Corp.’s (NOK) “Buy” Rating Reaffirmed at Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Nokia Corp. (NYSE:NOK) in a research report report published on Monday. The firm currently has a $7.00 price target on the technology company’s stock.
Several other research analysts also recently commented on the stock. Goldman Sachs Group Inc. raised shares of Nokia Corp. from a neutral rating to a buy rating and lifted their target price for the stock from $5.54 to $5.60 in a research note on Wednesday, June 29th. Vetr raised shares of Nokia Corp. from a buy rating to a strong-buy rating and set a $6.18 price objective on the stock in a research report on Monday, June 27th. Bank of America Corp. reissued a buy rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Morgan Stanley reissued a neutral rating on shares of Nokia Corp. in a research report on Friday, August 12th. Finally, BMO Capital Markets reissued a buy rating and set a $7.00 price objective on shares of Nokia Corp. in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $7.18.
Shares of Nokia Corp. (NYSE:NOK) opened at 5.51 on Monday. The stock has a market cap of $31.80 billion, a P/E ratio of 30.27 and a beta of 1.49. Nokia Corp. has a one year low of $5.01 and a one year high of $7.63. The stock has a 50 day moving average of $5.67 and a 200 day moving average of $5.71.
Nokia Corp. (NYSE:NOK) last issued its earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The firm earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 91.3% compared to the same quarter last year. On average, analysts forecast that Nokia Corp. will post $0.21 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in NOK. Prospera Financial Services Inc purchased a new stake in Nokia Corp. during the second quarter valued at about $101,000. National Asset Management Inc. purchased a new stake in Nokia Corp. during the second quarter valued at about $113,000. Advisor Group Inc. purchased a new stake in Nokia Corp. during the second quarter valued at about $127,000. Eqis Capital Management Inc. raised its stake in Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock valued at $133,000 after buying an additional 267 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its stake in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares in the last quarter. 4.29% of the stock is owned by institutional investors.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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