Canaccord Genuity Reaffirms “Buy” Rating for Nokia Corp. (NOK)
Nokia Corp. (NYSE:NOK)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a research report issued on Monday. They presently have a $7.00 price target on the technology company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 27.97% from the company’s previous close.
A number of other analysts have also commented on the company. Goldman Sachs Group Inc. upgraded Nokia Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.54 to $5.60 in a report on Wednesday, June 29th. Vetr lowered Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target on the stock. in a report on Wednesday, July 13th. Credit Agricole SA upgraded Nokia Corp. from an “underperform” rating to an “outperform” rating and dropped their price target for the stock from $6.81 to $5.36 in a report on Wednesday, May 25th. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Nokia Corp. in a report on Friday, June 10th. Finally, Morgan Stanley reiterated a “neutral” rating on shares of Nokia Corp. in a report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Nokia Corp. currently has an average rating of “Buy” and a consensus target price of $7.18.
Shares of Nokia Corp. (NYSE:NOK) opened at 5.47 on Monday. Nokia Corp. has a 12-month low of $5.01 and a 12-month high of $7.63. The firm has a market capitalization of $31.57 billion, a price-to-earnings ratio of 29.89 and a beta of 1.49. The stock’s 50 day moving average price is $5.70 and its 200 day moving average price is $5.73.
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Nokia Corp. (NYSE:NOK) last posted its earnings results on Thursday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The company earned $5.58 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 91.3% compared to the same quarter last year. Equities research analysts expect that Nokia Corp. will post $0.21 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc bought a new stake in Nokia Corp. during the second quarter worth $101,000. Advisor Group Inc. bought a new stake in Nokia Corp. during the second quarter worth $127,000. Eqis Capital Management Inc. raised its stake in Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock worth $133,000 after buying an additional 267 shares during the period. Regentatlantic Capital LLC raised its stake in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock worth $134,000 after buying an additional 11,570 shares during the period. Finally, Financial Architects Inc raised its stake in Nokia Corp. by 2,991.3% in the second quarter. Financial Architects Inc now owns 25,009 shares of the technology company’s stock worth $143,000 after buying an additional 24,200 shares during the period. 4.29% of the stock is owned by institutional investors.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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