Nokia Corp. (NYSE:NOK) was downgraded by analysts at Vetr from a “buy” rating to a “sell” rating in a report released on Wednesday. They presently have a $5.66 price target on the technology company’s stock. Vetr‘s target price indicates a potential downside of 3.41% from the company’s previous close.
Other hedge funds have added to or reduced their stakes in the company. Capital Fund Management S.A. acquired a new stake in Nokia Corp. during the second quarter worth approximately $3,982,000. Prospera Financial Services Inc acquired a new stake in Nokia Corp. during the second quarter worth approximately $101,000. Stoneridge Investment Partners LLC raised its stake in Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock worth $3,749,000 after buying an additional 98,194 shares in the last quarter. Bank of Montreal Can acquired a new stake in Nokia Corp. during the second quarter worth approximately $454,000. Finally, Financial Architects Inc raised its stake in Nokia Corp. by 2,991.3% in the second quarter. Financial Architects Inc now owns 25,009 shares of the technology company’s stock worth $143,000 after buying an additional 24,200 shares in the last quarter.
Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Corp. in a research report on Tuesday, May 10th. Nordea Equity Research upgraded shares of Nokia Corp. to a “buy” rating in a research note on Saturday, April 9th. Bank of America Corp. upgraded shares of Nokia Corp. from a “neutral” rating to a “buy” rating in a research note on Friday, May 13th. Canaccord Genuity upgraded shares of Nokia Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $5.50 to $7.00 in a research note on Monday, May 16th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Nokia Corp. in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $6.93.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Tuesday, May 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm earned $5.60 billion during the quarter, compared to the consensus estimate of $5.74 billion. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Nokia Corp. will post $0.24 EPS for the current year.
The firm also recently announced an annual dividend, which was paid on Tuesday, July 12th. Shareholders of record on Monday, June 20th were issued a dividend of $0.209 per share. This is a positive change from Nokia Corp.’s previous annual dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 16th.
Nokia Corp is a Finland-based telecommunication and network infrastructure company. The Company operates through two business segments: Nokia Networks and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services.
