Nokia Oyj (NYSE:NOK) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, January 5th, Marketbeat.com reports. They currently have a $5.00 price target on the technology company’s stock, up from their previous price target of $4.89. Credit Suisse Group’s price target suggests a potential upside of 3.31% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. BNP Paribas downgraded shares of Nokia Oyj from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $5.00 to $3.90 in a research report on Monday, December 4th. Argus downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating and upped their target price for the stock from $4.76 to $4.91 in a report on Monday, October 30th. Canaccord Genuity dropped their target price on shares of Nokia Oyj from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Oyj in a report on Friday, October 27th. Finally, Vetr raised shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.37 target price for the company in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.51.
Shares of Nokia Oyj (NYSE NOK) opened at $4.84 on Friday. Nokia Oyj has a 1 year low of $4.50 and a 1 year high of $6.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.33. The company has a market cap of $28,200.00, a P/E ratio of -48.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29.
Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Nokia Oyj had a negative net margin of 2.09% and a positive return on equity of 9.88%. The firm had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. equities analysts expect that Nokia Oyj will post 0.33 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Nokia Oyj by 56.7% during the 2nd quarter. Royal Bank of Canada now owns 1,852,037 shares of the technology company’s stock valued at $11,408,000 after buying an additional 670,039 shares in the last quarter. Lenox Wealth Management Inc. raised its position in shares of Nokia Oyj by 35.5% during the 3rd quarter. Lenox Wealth Management Inc. now owns 129,663 shares of the technology company’s stock valued at $775,000 after buying an additional 33,987 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Nokia Oyj by 272.3% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 199,826 shares of the technology company’s stock valued at $1,195,000 after buying an additional 146,152 shares in the last quarter. Stifel Financial Corp raised its position in shares of Nokia Oyj by 68.7% during the 2nd quarter. Stifel Financial Corp now owns 181,890 shares of the technology company’s stock valued at $1,121,000 after buying an additional 74,056 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Nokia Oyj by 53.3% during the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after buying an additional 2,414,440 shares in the last quarter. Hedge funds and other institutional investors own 5.86% of the company’s stock.
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Nokia Oyj Company Profile
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.
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