BMO Capital Markets Reiterates $6.00 Price Target for Nokia Corporation (NOK)
BMO Capital Markets set a $6.00 target price on Nokia Corporation (NYSE:NOK) in a research report report published on Wednesday morning. The firm currently has a hold rating on the technology company’s stock.
Several other research firms also recently weighed in on NOK. Citigroup Inc. assumed coverage on shares of Nokia Corporation in a research note on Thursday, June 8th. They issued a neutral rating and a $6.00 price target on the stock. Bank of America Corporation reissued a neutral rating on shares of Nokia Corporation in a research note on Friday, June 2nd. Societe Generale assumed coverage on shares of Nokia Corporation in a research note on Wednesday, June 14th. They issued a buy rating on the stock. Wells Fargo & Company reissued a market perform rating on shares of Nokia Corporation in a research note on Friday, June 16th. Finally, Vetr downgraded shares of Nokia Corporation from a strong-buy rating to a buy rating and set a $7.10 price target on the stock. in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $6.24.
Shares of Nokia Corporation (NYSE:NOK) opened at 6.40 on Wednesday. The company’s market capitalization is $36.17 billion. The stock has a 50 day moving average of $6.29 and a 200-day moving average of $5.64. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65.
Nokia Corporation (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 7.98%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. Equities research analysts forecast that Nokia Corporation will post $0.26 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in NOK. Alliancebernstein L.P. increased its position in shares of Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock valued at $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Stelliam Investment Management LP bought a new position in shares of Nokia Corporation during the first quarter valued at approximately $34,268,000. Ariel Investments LLC increased its position in shares of Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock valued at $175,462,000 after buying an additional 5,650,498 shares during the last quarter. TCW Group Inc. increased its position in shares of Nokia Corporation by 287.8% in the first quarter. TCW Group Inc. now owns 3,765,373 shares of the technology company’s stock valued at $20,409,000 after buying an additional 2,794,357 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Nokia Corporation by 23.6% in the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock valued at $66,145,000 after buying an additional 2,331,892 shares during the last quarter. Hedge funds and other institutional investors own 5.90% of the company’s stock.
About Nokia Corporation
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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