Nokia Corporation (NOK) Given Consensus Recommendation of “Hold” by Analysts

Nokia Corporation (NYSE:NOK) has been assigned an average recommendation of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.77.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Vetr raised shares of Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.28 target price on the stock in a research report on Friday, July 14th. BMO Capital Markets set a $6.00 target price on shares of Nokia Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 26th. UBS AG reissued a “buy” rating on shares of Nokia Corporation in a research report on Wednesday, September 20th. Finally, BidaskClub cut shares of Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.

Shares of Nokia Corporation (NYSE:NOK) traded down 1.83% during trading on Wednesday, hitting $4.82. 20,412,565 shares of the stock traded hands. The company’s 50 day moving average is $5.92 and its 200 day moving average is $6.10. The firm’s market cap is $27.24 billion. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65.

Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia Corporation had a negative net margin of 2.09% and a positive return on equity of 9.88%. The business had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts predict that Nokia Corporation will post $0.30 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tocqueville Asset Management L.P. lifted its position in shares of Nokia Corporation by 17.2% during the third quarter. Tocqueville Asset Management L.P. now owns 4,016,291 shares of the technology company’s stock worth $24,017,000 after purchasing an additional 589,445 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Nokia Corporation during the third quarter worth $3,353,000. Well Done LLC acquired a new position in shares of Nokia Corporation during the third quarter worth $207,000. New Jersey Better Educational Savings Trust acquired a new position in shares of Nokia Corporation during the third quarter worth $478,000. Finally, Aperio Group LLC lifted its position in shares of Nokia Corporation by 11.7% during the third quarter. Aperio Group LLC now owns 1,543,217 shares of the technology company’s stock worth $9,228,000 after purchasing an additional 161,070 shares in the last quarter. 5.85% of the stock is currently owned by institutional investors and hedge funds.

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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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