UBS AG reiterated their buy rating on shares of Nokia Corporation (NYSE:NOK) in a research report sent to investors on Wednesday morning, www.boersen-zeitung.de reports.
Other analysts also recently issued reports about the stock. BMO Capital Markets set a $6.00 price target on shares of Nokia Corporation and gave the company a hold rating in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Nokia Corporation from a buy rating to a hold rating in a research report on Wednesday, July 5th. Canaccord Genuity reiterated a hold rating and issued a $7.00 price target on shares of Nokia Corporation in a research report on Thursday, July 27th. Vetr upgraded shares of Nokia Corporation from a buy rating to a strong-buy rating and set a $7.22 price target on the stock in a research report on Wednesday, August 9th. Finally, Citigroup Inc. initiated coverage on shares of Nokia Corporation in a report on Thursday, June 8th. They set a neutral rating and a $6.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $5.91.
Nokia Corporation (NOK) opened at 6.00 on Wednesday. The stock has a 50 day moving average of $6.25 and a 200-day moving average of $6.01. The stock’s market cap is $33.91 billion. Nokia Corporation has a 52 week low of $4.04 and a 52 week high of $6.65.
Nokia Corporation (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business 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 8.20%. Nokia Corporation’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. Analysts forecast that Nokia Corporation will post $0.30 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Nokia Corporation in the second quarter valued at $215,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Nokia Corporation in the second quarter valued at $13,766,000. Moors & Cabot Inc. grew its stake in shares of Nokia Corporation by 39.1% in the second quarter. Moors & Cabot Inc. now owns 260,139 shares of the technology company’s stock valued at $1,595,000 after buying an additional 73,078 shares in the last quarter. Lenox Wealth Management Inc. bought a new position in shares of Nokia Corporation in the second quarter valued at $589,000. Finally, Royal Bank of Canada grew its stake in shares of Nokia Corporation by 56.7% in the second quarter. Royal Bank of Canada now owns 1,852,037 shares of the technology company’s stock valued at $11,408,000 after buying an additional 670,039 shares in the last quarter. 5.85% 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.
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