Nokia Corporation (NOK) Rating Lowered to Buy at Vetr Inc.

Nokia Corporation (NYSE:NOK) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, July 12th. They currently have a $7.10 price target on the technology company’s stock. Vetr‘s target price would indicate a potential upside of 13.42% from the company’s current price.

A number of other brokerages have also weighed in on NOK. Societe Generale assumed coverage on Nokia Corporation in a research report on Wednesday, June 14th. They set a “buy” rating for the company. Citigroup Inc. assumed coverage on Nokia Corporation in a research report on Thursday, June 8th. They issued a “neutral” rating and a $6.00 price target for the company. Canaccord Genuity reiterated a “hold” rating and issued a $6.00 price target on shares of Nokia Corporation in a research report on Monday, May 15th. BMO Capital Markets reissued a “hold” rating and issued a $5.00 price objective on shares of Nokia Corporation in a research note on Wednesday, March 15th. Finally, Bank of America Corporation reissued a “neutral” rating on shares of Nokia Corporation in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.24.

Shares of Nokia Corporation (NYSE:NOK) traded up 0.16% during mid-day trading on Wednesday, hitting $6.26. The company’s stock had a trading volume of 9,597,704 shares. The company’s market cap is $35.38 billion. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65. The stock’s 50 day moving average price is $6.31 and its 200 day moving average price is $5.76.

Nokia Corporation (NYSE:NOK) last issued its quarterly earnings data 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. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.64 billion. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Equities analysts forecast that Nokia Corporation will post $0.29 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in NOK. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Brandes Investment Partners LP raised its position in Nokia Corporation by 6.7% in the first quarter. Brandes Investment Partners LP now owns 11,469,670 shares of the technology company’s stock valued at $62,166,000 after buying an additional 717,676 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Nokia Corporation by 53.3% in the second quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after buying an additional 2,414,440 shares in the last quarter. 5.91% of the stock is currently owned by institutional investors and hedge funds.

About Nokia Corporation

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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