Vetr Inc. Downgrades Nokia Corporation (NYSE:NOK) to Buy
Vetr cut shares of Nokia Corporation (NYSE:NOK) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday. They currently have $7.13 price target on the technology company’s stock.
NOK has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Nokia Corporation from a buy rating to a hold rating in a report on Monday, July 17th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Nokia Corporation in a report on Thursday, April 27th. BMO Capital Markets reissued a market perform rating on shares of Nokia Corporation in a report on Friday, June 16th. Canaccord Genuity reissued a hold rating and issued a $6.00 price target on shares of Nokia Corporation in a report on Friday, May 5th. Finally, BidaskClub downgraded shares of Nokia Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.24.
Shares of Nokia Corporation (NOK) traded down 0.078% during trading on Thursday, reaching $6.395. 18,580,488 shares of the company’s stock were exchanged. Nokia Corporation has a 52 week low of $4.04 and a 52 week high of $6.65. The company’s 50-day moving average price is $6.29 and its 200 day moving average price is $5.64. The firm’s market capitalization is $36.14 billion.
Nokia Corporation (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the company earned $0.03 EPS. Nokia Corporation’s revenue was up .8% on a year-over-year basis. Analysts predict that Nokia Corporation will post $0.26 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Cutter & CO Brokerage Inc. raised its stake in Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock worth $115,000 after buying an additional 2,700 shares during the period. Smithbridge Asset Management Inc. DE bought a new stake in Nokia Corporation during the second quarter worth about $119,000. Chevy Chase Trust Holdings Inc. bought a new stake in Nokia Corporation during the first quarter worth about $136,000. Searle & CO. bought a new stake in Nokia Corporation during the fourth quarter worth about $145,000. Finally, Two Sigma Securities LLC bought a new stake in Nokia Corporation during the first quarter worth about $150,000. 5.91% of the stock is owned by institutional investors and hedge funds.
Nokia Corporation Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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