Argus lowered shares of Nokia Corporation (NYSE:NOK) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports. Argus currently has $4.91 price target on the technology company’s stock, up from their previous price target of $4.76.
Several other research firms also recently issued reports on NOK. Zacks Investment Research downgraded Nokia Corporation from a buy rating to a hold rating in a research note on Tuesday, August 8th. Vetr raised Nokia Corporation from a hold rating to a buy rating and set a $6.37 price objective for the company in a research note on Monday, September 25th. BNP Paribas downgraded Nokia Corporation from a neutral rating to an underperform rating in a research note on Thursday, September 21st. Canaccord Genuity lowered their price objective on Nokia Corporation from $7.00 to $5.50 and set a hold rating for the company in a research note on Friday, October 27th. Finally, Credit Suisse Group reaffirmed a neutral rating on shares of Nokia Corporation in a research note on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.75.
Nokia Corporation (NYSE:NOK) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia Corporation had a positive return on equity of 9.88% and a negative net margin of 2.09%. The company had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year.
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Several institutional investors have recently bought and sold shares of NOK. Institute for Wealth Management LLC. bought a new position in shares of Nokia Corporation during the 2nd quarter worth approximately $116,000. Smithbridge Asset Management Inc. DE bought a new position in shares of Nokia Corporation in the 2nd quarter worth $119,000. Geneva Advisors LLC bought a new position in shares of Nokia Corporation in the 2nd quarter worth $125,000. Cutter & CO Brokerage Inc. lifted its holdings in shares of Nokia Corporation by 8.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock worth $142,000 after purchasing an additional 1,801 shares in the last quarter. Finally, First Command Bank lifted its holdings in shares of Nokia Corporation by 100.0% in the 2nd quarter. First Command Bank now owns 25,788 shares of the technology company’s stock worth $158,000 after purchasing an additional 12,894 shares in the last quarter. Hedge funds and other institutional investors own 5.85% of the company’s stock.
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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