Nokia Corporation (NOK) Raised to Buy at BidaskClub

12 August, 2017, 06:59 | Author: Pamela Mathis

Nokia Corporation was downgraded by analysts at Zacks Investment Research from a "buy" rating to a "hold" rating.

According to Zacks, "Shares of Nokia have outperformed the industry it belongs to, in the last one year". Following the deal, Nokia got an up-front payment in cash from Apple. Nokia's growth-by-acquisition strategy is impressive. In early Jan 2016, Nokia Networks gained control of Alcatel-Lucent.

The company is so far trading down by -1.57% since yesterday's close of $6.36. However, the below-par performance of its Networks division continues to hurt Nokia.

Several other brokerages also recently weighed in on NOK. The firm has "Hold" rating by Oppenheimer given on Friday, April 28.

07/27/2017 - Nokia Corporation had its "hold" rating reiterated by analysts at Canaccord Genuity.

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Nokia Corporation (NYSE:NOK) is now up 54.7% compared to a 12-month low of $4.04. Citigroup Inc. assumed coverage on shares of Nokia Corporation in a research note on Thursday, June 8th. The company presently has an average rating of Hold and a consensus price target of $6.24. A buy rating is a recommendation to purchase a specific security.

Nokia Corporation (NYSE NOK) traded up 0.16% during trading on Friday, reaching $6.26. Northern Trust Corp now owns 5,811,715 shares of the technology company's stock worth $35,801,000 after buying an additional 34,906 shares in the last quarter. This will give analytical advantage to a shorter-term trader since it pursues the price more intimately, and consequently produces less "lag" as comparison to the longer-term moving average. The market capitalization of the company is at $37.22 Billion.

Nokia Corporation (NYSE:NOK) last announced its quarterly 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. The business had revenue of $5.63 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter a year ago, the company earned $0.03 earnings per share.

EPS in next five year years is expected to touch 23.87% while EPS growth in past 5 year was 17.80% along with sales growth of 8.20% in the last five years. On average, equities analysts expect that Nokia Corporation will post $0.29 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: "Somewhat Favorable Media Coverage Likely to Impact Nokia Corporation (NYSE:NOK) Share Price" was reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this report on another publication, it was stolen and reposted in violation of United States and worldwide trademark and copyright law. The correct version of this piece of content can be read at https://www.thestockobserver.com/2017/08/11/nokia-corporation-nok-downgraded-by-zacks-investment-research.html. Ariel Investments LLC boosted its stake in Nokia Corporation by 21.1% in the first quarter. M&T Bank Corp now owns 204,731 shares of the technology company's stock worth $1,261,000 after buying an additional 34,716 shares in the last quarter. Finally, Opera Trading Capital bought a new stake in shares of Nokia Corporation during the second quarter valued at $2,772,000. The firm owned 30,049 shares of the technology company's stock at the end of the second quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Nokia Corporation by 1.8% in the fourth quarter. Capstone Asset Management Co. now owns 491,268 shares of the technology company's stock valued at $2,663,000 after buying an additional 15,695 shares in the last quarter. American Trust Investment Advisors LLC's holdings in Nokia Corporation were worth $249,000 as of its most recent SEC filing. Renaissance Technologies LLC raised its position in Nokia Corporation by 705.5% in the second quarter. Creative Planning now owns 49,305 shares of the technology company's stock valued at $267,000 after buying an additional 1,727 shares during the period. To dig out factors, always good to learn who else owns shares, the institutional owner includes mutual funds and pension funds are major players.

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