Nokia Corporation’s (NOK) “Hold” Rating Reiterated at Canaccord Genuity
Canaccord Genuity reiterated their hold rating on shares of Nokia Corporation (NYSE:NOK) in a research report sent to investors on Thursday morning. They currently have a $7.00 price objective on the technology company’s stock.
Several other equities analysts have also commented on the stock. Vetr lowered shares of Nokia Corporation from a strong-buy rating to a buy rating and set a $7.13 price target for the company. in a research report on Thursday. BMO Capital Markets set a $6.00 price target on shares of Nokia Corporation and gave the stock a hold rating in a research report on Wednesday, July 26th. BidaskClub lowered shares of Nokia Corporation from a buy rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Nokia Corporation from a buy rating to a hold rating in a research report on Monday, July 17th. Finally, Credit Suisse Group reiterated an outperform rating and issued a $5.75 target price on shares of Nokia Corporation in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $6.24.
Shares of Nokia Corporation (NYSE:NOK) traded down 0.16% during mid-day trading on Thursday, hitting $6.39. 18,580,888 shares of the stock traded hands. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65. The stock’s market cap is $36.11 billion. The firm’s 50 day moving average price is $6.29 and its 200-day moving average price is $5.64.
Nokia Corporation (NYSE:NOK) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Analysts predict that Nokia Corporation will post $0.26 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of NOK. FMR LLC raised its stake in Nokia Corporation by 14.6% in the fourth quarter. FMR LLC now owns 2,099,893 shares of the technology company’s stock worth $10,100,000 after buying an additional 266,800 shares in the last quarter. Teachers Advisors LLC raised its stake in Nokia Corporation by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 4,646,679 shares of the technology company’s stock worth $22,351,000 after buying an additional 152,832 shares in the last quarter. Searle & CO. purchased a new stake in Nokia Corporation during the fourth quarter worth approximately $145,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Nokia Corporation during the first quarter worth approximately $136,000. Finally, Creative Planning raised its stake in Nokia Corporation by 3.6% in the first quarter. Creative Planning now owns 49,305 shares of the technology company’s stock worth $267,000 after buying an additional 1,727 shares in the last quarter. 5.91% of the stock is owned by institutional investors.
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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