BNP Paribas Upgrades Nokia Corporation (NOK) to “Neutral”

Nokia Corporation (NYSE:NOK) was upgraded by investment analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, November 7th, Marketbeat.com reports.

A number of other equities research analysts have also recently issued reports on NOK. Vetr cut shares of Nokia from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective for the company. in a research note on Wednesday, July 12th. BidaskClub raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BMO Capital Markets set a $6.00 price target on shares of Nokia and gave the company a “hold” rating in a research report on Wednesday, July 26th. Finally, Canaccord Genuity reissued a “hold” rating and set a $7.00 price target on shares of Nokia in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. Nokia currently has a consensus rating of “Hold” and an average target price of $5.88.

Nokia (NOK) traded up $0.03 during trading on Tuesday, reaching $5.08. 3,944,707 shares of the company were exchanged, compared to its average volume of 15,981,523. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. The company has a market cap of $29,648.24, a price-to-earnings ratio of 14.11, a PEG ratio of 1.15 and a beta of 1.24. Nokia has a twelve month low of $4.20 and a twelve month high of $6.65.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. Nokia had a negative net margin of 2.09% and a positive return on equity of 9.88%. The business had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the firm posted $0.04 EPS. Nokia’s revenue was down 7.0% on a year-over-year basis. research analysts anticipate that Nokia will post 0.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Greenleaf Trust raised its stake in Nokia by 2.4% during the 2nd quarter. Greenleaf Trust now owns 33,585 shares of the technology company’s stock worth $207,000 after acquiring an additional 801 shares during the period. Nationwide Fund Advisors raised its stake in Nokia by 1.7% during the 2nd quarter. Nationwide Fund Advisors now owns 52,400 shares of the technology company’s stock worth $323,000 after acquiring an additional 900 shares during the period. PNC Financial Services Group Inc. raised its stake in Nokia by 1.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 82,075 shares of the technology company’s stock worth $445,000 after acquiring an additional 1,359 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Nokia by 8.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock worth $142,000 after acquiring an additional 1,801 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in Nokia by 3.4% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 102,153 shares of the technology company’s stock worth $629,000 after acquiring an additional 3,327 shares during the period. 6.10% of the stock is currently owned by institutional investors.

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About Nokia

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.

Analyst Recommendations for Nokia (NYSE:NOK)

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