Nokia Corporation (NOK) Rating Lowered to Hold at BidaskClub

Nokia Corporation (NYSE:NOK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Nokia Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. BMO Capital Markets restated a “market perform” rating and set a $6.00 price objective on shares of Nokia Corporation in a research report on Wednesday, May 24th. Credit Suisse Group reiterated an “outperform” rating and issued a $5.75 price target on shares of Nokia Corporation in a research report on Thursday, July 6th. Vetr upgraded Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.08 price target for the company in a research report on Wednesday, July 5th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Nokia Corporation in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.24.

Nokia Corporation (NYSE:NOK) traded up 0.16% during trading on Monday, hitting $6.26. The stock had a trading volume of 9,597,704 shares. Nokia Corporation has a 52 week low of $4.04 and a 52 week high of $6.65. The company has a 50-day moving average of $6.31 and a 200 day moving average of $5.76. The company’s market cap is $35.38 billion.

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

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A number of institutional investors have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. raised its position in Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock valued at $115,000 after buying an additional 2,700 shares in the last quarter. Smithbridge Asset Management Inc. DE purchased a new position in Nokia Corporation during the second quarter valued at about $119,000. Geneva Advisors LLC purchased a new position in Nokia Corporation during the second quarter valued at about $125,000. Chevy Chase Trust Holdings Inc. purchased a new position in Nokia Corporation during the first quarter valued at about $136,000. Finally, Searle & CO. purchased a new position in Nokia Corporation during the fourth quarter valued at about $145,000. 5.91% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Nokia Corporation (NYSE:NOK)

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