Nokia Oyj (NOK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Nokia maintains a leading position in mobile and fixed network infrastructure with the industry’s most complete, end-to-end portfolio of products. Nokia facilitates customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation. The company is continuously expanding its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond primary markets. The stock has outperformed the industry in the past year on average. However, Brexit could result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. In addition, Nokia is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members. Adverse foreign currency translation and lapses in sound financial management remain additional headwinds.”

A number of other equities analysts have also recently commented on the company. ValuEngine raised Nokia Oyj from a strong sell rating to a sell rating in a report on Tuesday, September 18th. DNB Markets raised Nokia Oyj from a hold rating to a buy rating in a report on Thursday, October 25th. BNP Paribas cut Nokia Oyj from a neutral rating to an underperform rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. reissued a buy rating on shares of Nokia Oyj in a report on Monday, September 17th. Finally, Credit Suisse Group raised Nokia Oyj from an underperform rating to a buy rating and boosted their price target for the stock from $5.56 to $7.00 in a report on Wednesday, September 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $5.92.

NYSE:NOK opened at $5.47 on Friday. The firm has a market cap of $30.80 billion, a PE ratio of 14.78, a P/E/G ratio of 2.28 and a beta of 0.65. The company has a quick ratio of 1.05, a current ratio of 1.29 and a debt-to-equity ratio of 0.18. Nokia Oyj has a fifty-two week low of $4.51 and a fifty-two week high of $6.41.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 25th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.56 billion. Nokia Oyj had a positive return on equity of 8.03% and a negative net margin of 4.12%. On average, research analysts expect that Nokia Oyj will post 0.26 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Nokia Oyj by 528.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock worth $10,636,000 after buying an additional 1,555,431 shares in the last quarter. BlackRock Inc. increased its holdings in Nokia Oyj by 4,196.3% in the 1st quarter. BlackRock Inc. now owns 85,925 shares of the technology company’s stock worth $470,000 after purchasing an additional 83,925 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Nokia Oyj by 124.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 212,322 shares of the technology company’s stock worth $1,221,000 after purchasing an additional 117,648 shares in the last quarter. Private Advisor Group LLC increased its holdings in Nokia Oyj by 119.5% in the 2nd quarter. Private Advisor Group LLC now owns 183,382 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 99,843 shares in the last quarter. Finally, Trellus Management Company LLC acquired a new position in Nokia Oyj in the 3rd quarter worth about $446,000. 6.96% of the stock is owned by institutional investors.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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