BidaskClub Downgrades Nokia Corporation (NOK) to Hold

Isaac Cain
August 2, 2017

The firm presently has a $7.08 price target on the technology company's stock. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered Nokia Corporation from a "hold" rating to a "sell" rating in a report on Tuesday, April 4th. The consensus target price is $7.04 with 5 firms rating the stock a strong buy, 4 firms rating the stock a buy, 6 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell. Finally, Canaccord Genuity restated a "hold" rating and set a $6.00 price target on shares of Nokia Corporation in a research report on Friday, May 5th. The firm earned "Sell" rating on Wednesday, April 19 by Societe Generale. The firm now has a buy rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. The 12-month average price target stands at $6.95, which aligns with current levels.

(NYSE:NOK) shares saw light trading volume with 1,522K shares changing hands by the end of trading on Tuesday. The stock's market cap is $35.38 billion.

Nokia Corp (NYSE:NOK) 52-week high price stands at $6.65 and low price stands at $4.04, its price distance from 52-week high is -6.77% while its distance from 52-week low price is 53.47%. The company has a 50-day moving average of $6.32 and a 200-day moving average of $5.61.

Yet another important factor while evaluating a good buy/sell decision for Nokia Corporation (NOK) is its Earnings per Share or EPS. The technology company reported $0.03 EPS for the quarter, missing the Zacks' consensus estimate of $0.04 by $0.01. Likewise, the negative performance for the quarter was recorded as -6.42% and for the year was 9.26%, while the YTD performance remained at 2.75%.

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These analysts also forecasted Growth Estimates for the Current Quarter for NOK to be 66.7%. They expect $0.60 earnings per share, up 7.14% or $0.04 from last year's $0.56 per share. The business's quarterly revenue was down 3.8% on a year-over-year basis. The stock of Nokia Oyj (ADR) (NYSE:NOK) earned "Buy" rating by Goldman Sachs on Thursday, June 30.

WARNING: This report was originally posted by BBNS and is the sole property of of BBNS. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and global trademark & copyright laws. The correct version of this report can be viewed at https://baseballnewssource.com/markets/nokia-corporation-nysenok-stock-rating-upgraded-by-vetr-inc-updated-updated/1149107.html. This comes on back of 2016's 12% decline as well as the first quarter of this year that exhibited a 5% waning- all signs of gradual, steady improvement, especially with Nokia's efforts to cut back on costs.

Liberty Mutual Group Asset Management Inc, which manages about $2.80 billion US Long portfolio, upped its stake in Southern Co (NYSE:SO) by 6,532 shares to 67,881 shares, valued at $3.34 million in 2016Q4, according to the filing.

Liberty Mutual Group Asset Management Inc decreased its stake in Firstenergy Corp (FE) by 27.16% based on its latest 2016Q4 regulatory filing with the SEC. DE purchased a new position in Nokia Corporation during the second quarter valued at $119,000. Searle & CO. bought a new position in Nokia Corporation during the fourth quarter valued at $145,000.

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol infrastructure, software, and related services market. The Company's businesses include Nokia Networks and Nokia Technologies. The Ultra Broadband Networks segment comprises Mobile Networks and Fixed Networks operating segments. Finnish time (CET+1). The financial report will be made accessible on the Nokia website immediately after publication.

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