Nokia Corporation (NOK) Rating Lowered to Underperform at BNP Paribas

Nokia Corporation (NYSE:NOK) was downgraded by equities researchers at BNP Paribas from a “neutral” rating to an “underperform” rating in a report issued on Thursday.

Several other research analysts have also recently weighed in on the stock. UBS AG reiterated a “buy” rating on shares of Nokia Corporation in a research note on Wednesday. Vetr cut shares of Nokia Corporation from a “strong-buy” rating to a “hold” rating and set a $6.37 price target on the stock. in a research note on Monday, September 18th. Zacks Investment Research cut shares of Nokia Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Nokia Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Nokia Corporation in a research note on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.91.

Shares of Nokia Corporation (NYSE:NOK) opened at 6.00 on Thursday. The company’s market cap is $33.91 billion. The firm’s 50-day moving average is $6.25 and its 200-day moving average is $6.01. Nokia Corporation has a one year low of $4.04 and a one year high of $6.65.

Nokia Corporation (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. On average, equities analysts anticipate that Nokia Corporation will post $0.30 EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. increased its holdings in shares of Nokia Corporation by 203.7% in the 2nd quarter. Capstone Asset Management Co. now owns 1,492,156 shares of the technology company’s stock worth $9,192,000 after buying an additional 1,000,888 shares during the last quarter. AMG National Trust Bank increased its holdings in shares of Nokia Corporation by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 430,765 shares of the technology company’s stock worth $2,654,000 after buying an additional 20,955 shares during the last quarter. Comerica Bank increased its holdings in shares of Nokia Corporation by 1.4% in the 1st quarter. Comerica Bank now owns 341,022 shares of the technology company’s stock worth $1,951,000 after buying an additional 4,660 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Nokia Corporation by 108.2% in the 1st quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Nokia Corporation by 26.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 210,259 shares of the technology company’s stock worth $1,140,000 after buying an additional 43,704 shares during the last quarter. Hedge funds and other institutional investors own 5.85% of the company’s stock.

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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