Vetr Inc. Lowers Nokia Corporation (NOK) to Buy

Vetr lowered shares of Nokia Corporation (NYSE:NOK) from a strong-buy rating to a buy rating in a report released on Wednesday. The firm currently has $7.10 price target on the technology company’s stock.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Nokia Corporation from a hold rating to a sell rating in a research note on Tuesday, April 4th. BMO Capital Markets reissued a market perform rating and set a $6.00 target price on shares of Nokia Corporation in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Nokia Corporation in a research note on Thursday, April 27th. Canaccord Genuity reissued a hold rating and set a $6.00 target price on shares of Nokia Corporation in a research note on Monday, May 15th. Finally, Societe Generale initiated coverage on Nokia Corporation in a research note on Wednesday, June 14th. They set a buy rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Nokia Corporation presently has an average rating of Hold and a consensus target price of $6.26.

Nokia Corporation (NYSE NOK) opened at 6.31 on Wednesday. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65. The company’s market capitalization is $35.86 billion. The company has a 50 day moving average of $6.35 and a 200 day moving average of $5.44.

Nokia Corporation (NYSE:NOK) last issued its earnings results on Thursday, April 27th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.33 billion. Nokia Corporation had a negative net margin of 2.82% and a positive return on equity of 6.57%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts forecast that Nokia Corporation will post $0.25 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Cutter & CO Brokerage Inc. boosted its position in shares of Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock worth $115,000 after buying an additional 2,700 shares during the period. Smithbridge Asset Management Inc. DE bought a new position in shares of Nokia Corporation during the second quarter worth approximately $119,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Nokia Corporation during the first quarter worth approximately $136,000. Searle & CO. bought a new position in shares of Nokia Corporation during the fourth quarter worth approximately $145,000. Finally, Two Sigma Securities LLC bought a new position in shares of Nokia Corporation during the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 5.87% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nokia Corporation (NYSE:NOK)

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