Zacks Investment Research Downgrades Nokia Corporation (NYSE:NOK) to Hold

Joanna Estrada
August 12, 2017

In early Jan 2016, Nokia Networks gained control of Alcatel-Lucent. Notably, the company now expects to realize annual operating cost synergies €1.2 billion in full-year 2018 from the deal. However, the below-par performance of its Networks division continues to hurt Nokia. "Also, its top line is vulnerable to adverse foreign currency movements since the company operates globally".

Several equities research analysts recently weighed in on the company. Finally, BidaskClub cut Nokia Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. BMO Capital Markets set a $6.00 price target on Nokia Corporation and gave the company a hold rating in a research report on Wednesday, July 26th. Currently Nokia Corporation (NOK) stock is moving with Upswing trend. Citigroup Inc. started coverage on Nokia Corporation in a research note on Thursday, June 8th. They issued a "neutral" rating and a $6.00 price objective for the company. They now have a $7.10 price objective on the technology company's stock.

Based on the latest brokerage notes which have been released to investors, 2 brokers have issued a rating of "strong buy", 5 brokers "buy", 8 brokers "neutral", 1 brokers "sell" and 0 brokers "strong sell". They now have a Dollars 6 price target on the stock.

The stock of Nokia Oyj (ADR) (NOK) shows a multiple tops pattern with $6.93 target or 9.00 % above today's $6.36 share price. During its last trading session, Stock traded with the total exchanged volume of 7.39 million shares. The 50 day moving average went down $-0.04 or -0.70% and the 200 day average moved up $0.53. We have seen the price to move -1.73% lower and get settled at $6.25 on 8/10/2017.

Nokia Corporation (NYSE:NOK) last announced its earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.04 by $0.05. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.64 billion. The firm's revenue for the quarter was up.8% compared to the same quarter a year ago.

As of the last earnings report the EPS was $-0.09 and is estimated to be $0.29 for the current year with 5,651,797,000 shares outstanding. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and worldwide trademark & copyright legislation. The legal version of this piece can be viewed at Ariel Investments LLC boosted its stake in Nokia Corporation by 21.1% in the first quarter. Carl Domino Inc now owns 46,400 shares of the technology company's stock worth $251,000 after buying an additional 1,000 shares during the last quarter. Finally, Searle & CO. bought a new position in Nokia Corporation during the fourth quarter valued at about $145,000. The shares price has positioned 2.12% up over the past quarter while it has directed 27.81% toward a rising position throughout past six months. Advisor Group Inc. boosted its stake in Nokia Corporation by 9.4% in the second quarter. For the quarter, shares have been noted at 2.12%. Capstone Asset Management Co. raised its stake in shares of Nokia Corporation by 3.3% in the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the technology company's stock valued at $279,000 after buying an additional 1,900 shares during the period. FMR LLC raised its position in shares of Nokia Corporation by 14.6% in the fourth quarter.

During last 5 trades the stock sticks nearly -2.45%. Institutional investors own 5.91% of the company's stock. The Company's business processes, vendor and electronic payment management software and behavioral science analytics manage outcomes for marketplace participants.

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