Nokia Corporation (NYSE:NOK) Receiving Somewhat Positive Press Coverage, Report Finds

Remigio Civitarese
Agosto 13, 2017

Nokia Corporation (NYSE:NOK) has been given an average recommendation of "Hold" by the twenty-five analysts that are covering the company, Marketbeat Ratings reports. As of quarter end Alliancebernstein L.p. had sold a total of 962,640 shares trimming its holdings by 4.6%. In early Jan 2016, Nokia Networks gained control of Alcatel-Lucent.

EPS growth in next year is estimated to reach 25.35% while EPS growth estimate for this year is set at -143.30%. However, the below-par performance of its Networks division continues to hurt Nokia.

A number of other research analysts also recently commented on NOK. This company shares are 8.32% off its target price of $6.77 and the current market capitalization stands at $36.57B. Oppenheimer Holdings, Inc. restated a hold rating on shares of Nokia Corporation in a report on Thursday, April 27th. At the time of writing, the First Call consensus price target for the company is $6.77. Canaccord Genuity restated a hold rating and set a $6.00 price objective on shares of Nokia Corporation in a report on Friday, May 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company's stock.

Shares of Nokia Corporation (NYSE:NOK) opened at 6.25 on Friday. Considering that the stock daily volume of 11.46 million shares, this represents a pretty noteworthy trading in volume size. The co's performance for 6 months was surged of 30.33%and year to date showing moved up performance of 32.22%. The company holds 5.85 billion outstanding shares and 5.78 billion shares are floating in market.

Shares are trading at $6.26 which is a tad under the 50 day moving average of $6.31 and just above the 200 day moving average of $5.74.

Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, July 27th. The consensus mean EPS for the current quarter is at $0.06 derived from a total of 10 estimates from the analysts who have weighed in on projected earnings.

Moving focus toward profitability ratios, the return on equity was booked as -2.20%, while return on assets was -1.00%. The firm's revenue was up.8% on a year-over-year basis. During the same period a year ago, the business earned $0.03 earnings per share.

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Several hedge funds and other institutional investors have recently bought and sold shares of NOK. Teachers Advisors LLC now owns 4,646,679 shares of the technology company's stock valued at $22,351,000 after buying an additional 152,832 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Nokia Corporation by 3.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Nokia Corporation by 1.8% in the fourth quarter. Carl Domino Inc boosted its position in Nokia Corporation by 2.2% in the first quarter. SOL Capital Management CO now owns 99,137 shares of the technology company's stock worth $537,000 after buying an additional 29,076 shares in the last 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.

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market.

Nokia Bell Labs is to lead a consortium of industry vendors, operators, IT companies, small and medium-sized enterprises and European academic institutions to build over the next 24 months the Next Generation Platform-as-a-Service (NGPaaS) for the 5G era.

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