Goldman Sachs Group Inc. lowered shares of Nokia Corp. (NYSE:NOK) from a conviction-buy rating to a buy rating in a research report released on Thursday, The Fly reports.
Other equities analysts have also recently issued research reports about the stock. Vetr cut shares of Nokia Corp. from a strong-buy rating to a buy rating and set a $5.98 price target on the stock. in a research report on Tuesday, June 28th. Canaccord Genuity reaffirmed a buy rating and set a $7.00 price target on shares of Nokia Corp. in a research report on Monday, August 8th. BMO Capital Markets reaffirmed a buy rating and set a $7.00 price target on shares of Nokia Corp. in a research report on Wednesday, August 3rd. Bank of America Corp. reiterated a buy rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $6.73.
Shares of Nokia Corp. (NYSE:NOK) traded up 0.40% during midday trading on Thursday, reaching $4.96. The company’s stock had a trading volume of 4,762,407 shares. The company has a market capitalization of $28.63 billion, a P/E ratio of 27.40 and a beta of 1.47. Nokia Corp. has a 1-year low of $4.88 and a 1-year high of $7.63. The stock has a 50 day moving average of $5.62 and a 200-day moving average of $5.67.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 91.3% on a year-over-year basis. On average, equities research analysts anticipate that Nokia Corp. will post $0.20 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new position in Nokia Corp. during the second quarter worth approximately $91,405,000. Brandes Investment Partners LP purchased a new position in Nokia Corp. during the second quarter worth approximately $55,182,000. Emerald Acquisition Ltd. purchased a new position in Nokia Corp. during the second quarter worth approximately $30,399,000. Bowen Hanes & Co. Inc. raised its position in Nokia Corp. by 8,371.1% in the second quarter. Bowen Hanes & Co. Inc. now owns 3,303,735 shares of the technology company’s stock worth $18,798,000 after buying an additional 3,264,735 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new position in Nokia Corp. during the second quarter worth approximately $13,187,000. 4.28% of the stock is owned by hedge funds and other institutional investors.
About Nokia Corp.
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.