Nokia Corporation (NOK) Receives Consensus Rating of “Hold” from Analysts

Shares of Nokia Corporation (NYSE:NOK) have earned an average recommendation of “Hold” from the twenty-four research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.44.

Several research firms have commented on NOK. Zacks Investment Research lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Vetr lowered Nokia Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 target price on the stock. in a report on Wednesday, July 12th. BidaskClub lowered Nokia Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Bank of America Corporation reissued a “neutral” rating on shares of Nokia Corporation in a report on Friday, June 2nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $5.75 target price on shares of Nokia Corporation in a report on Thursday, July 6th.

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Shares of Nokia Corporation (NYSE:NOK) traded down 0.32% during midday trading on Monday, reaching $6.31. The company had a trading volume of 7,178,565 shares. The company’s 50 day moving average price is $6.35 and its 200 day moving average price is $5.44. The stock’s market capitalization is $35.86 billion. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65.

Nokia Corporation (NYSE:NOK) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.33 billion. Nokia Corporation had a positive return on equity of 6.57% and a negative net margin of 2.82%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Equities research analysts expect that Nokia Corporation will post $0.25 earnings per share for the current year.

Several hedge funds have recently modified their holdings of NOK. Alliancebernstein L.P. raised its position in Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock valued at $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Stelliam Investment Management LP acquired a new position in Nokia Corporation during the first quarter valued at approximately $34,268,000. Ariel Investments LLC raised its position in Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock valued at $175,462,000 after buying an additional 5,650,498 shares during the last quarter. TCW Group Inc. raised its position in Nokia Corporation by 287.8% in the first quarter. TCW Group Inc. now owns 3,765,373 shares of the technology company’s stock valued at $20,409,000 after buying an additional 2,794,357 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Nokia Corporation by 23.6% in the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock valued at $66,145,000 after buying an additional 2,331,892 shares during the last quarter. Institutional investors and hedge funds own 5.87% of the company’s stock.

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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