Nokia Corporation (NOK) Receives $6.44 Consensus PT from Brokerages

Nokia Corporation (NYSE:NOK) has earned an average recommendation of “Hold” from the twenty-five research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.41.

Several equities research analysts have recently weighed in on NOK shares. BMO Capital Markets restated a “hold” rating and issued a $5.00 price target on shares of Nokia Corporation in a report on Thursday, April 27th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Nokia Corporation in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of Nokia Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Vetr lowered shares of Nokia Corporation from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research note on Wednesday, May 3rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Nokia Corporation in a research note on Friday, May 5th.

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Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in shares of Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Stelliam Investment Management LP acquired a new stake in shares of Nokia Corporation during the first quarter worth $34,268,000. Ariel Investments LLC raised its stake in shares of Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock worth $175,462,000 after buying an additional 5,650,498 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Nokia Corporation by 705.5% in the second quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock worth $20,506,000 after buying an additional 2,915,600 shares during the last quarter. Finally, TCW Group Inc. raised its stake in shares of Nokia Corporation by 287.8% in the first quarter. TCW Group Inc. now owns 3,765,373 shares of the technology company’s stock worth $20,409,000 after buying an additional 2,794,357 shares during the last quarter. Hedge funds and other institutional investors own 5.91% of the company’s stock.

Nokia Corporation (NOK) opened at 6.26 on Monday. The stock’s 50 day moving average price is $6.31 and its 200 day moving average price is $5.76. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65. The company’s market capitalization is $35.38 billion.

Nokia Corporation (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the company posted $0.03 earnings per share. Nokia Corporation’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Nokia Corporation will post $0.29 earnings per share for the current fiscal year.

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.

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