ValuEngine Lowers Nokia Oyj (NOK) to Sell

ValuEngine cut shares of Nokia Oyj (NYSE:NOK) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other research firms also recently commented on NOK. TheStreet raised Nokia Oyj from a c+ rating to a b- rating in a report on Monday, March 18th. Raymond James raised Nokia Oyj from a market perform rating to an outperform rating and increased their target price for the stock from $4.75 to $7.50 in a report on Tuesday, January 8th. Canaccord Genuity reaffirmed a buy rating and set a $7.00 target price on shares of Nokia Oyj in a report on Friday, April 26th. Goldman Sachs Group downgraded Nokia Oyj from a neutral rating to a sell rating and set a $5.72 target price on the stock. in a report on Monday, April 15th. Finally, Zacks Investment Research raised Nokia Oyj from a sell rating to a hold rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $6.83.

NYSE:NOK opened at $5.04 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.31. Nokia Oyj has a 52 week low of $4.98 and a 52 week high of $6.65. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 18.67 and a beta of 0.27.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, April 25th. The technology company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Nokia Oyj had a positive return on equity of 6.97% and a negative net margin of 2.65%. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the business earned $0.02 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Nokia Oyj will post 0.24 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Sterling Investment Advisors Ltd. acquired a new stake in shares of Nokia Oyj during the 1st quarter worth approximately $29,000. Private Capital Group LLC raised its position in shares of Nokia Oyj by 2,210.7% during the 1st quarter. Private Capital Group LLC now owns 5,615 shares of the technology company’s stock worth $32,000 after purchasing an additional 5,372 shares during the period. Whittier Trust Co. raised its position in shares of Nokia Oyj by 197.1% during the 4th quarter. Whittier Trust Co. now owns 5,687 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,773 shares during the period. Covenant Multifamily Offices LLC acquired a new stake in shares of Nokia Oyj during the 1st quarter worth approximately $40,000. Finally, Investors Research Corp acquired a new stake in shares of Nokia Oyj during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 6.77% of the company’s stock.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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