Nokia (NYSE:NOK) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Nokia (NYSE:NOK) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on NOK. Santander lowered Nokia to a “neutral” rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. UBS Group reiterated a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a research report on Friday, October 24th. Finally, Northland Securities set a $7.50 price target on shares of Nokia in a report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.87.

Nokia Stock Down 0.9%

NOK traded down $0.07 during trading on Friday, hitting $6.85. 41,130,758 shares of the company’s stock were exchanged, compared to its average volume of 27,194,150. Nokia has a fifty-two week low of $3.91 and a fifty-two week high of $8.19. The stock has a market cap of $36.83 billion, a P/E ratio of 38.03 and a beta of 0.84. The business’s 50 day moving average is $5.38 and its two-hundred day moving average is $5.04. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Nokia will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after buying an additional 11,667,677 shares in the last quarter. Acadian Asset Management LLC bought a new position in Nokia in the 1st quarter worth approximately $45,207,000. Folketrygdfondet grew its stake in Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after buying an additional 6,950,487 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Nokia by 129.4% during the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after acquiring an additional 4,835,005 shares during the period. 5.28% of the stock is currently owned by institutional investors.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.