Nokia (NYSE:NOK) Stock Rating Lowered by Wall Street Zen

Nokia (NYSE:NOK) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. BNP Paribas raised shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.87.

Nokia Trading Down 0.9%

Shares of Nokia stock opened at $6.85 on Friday. Nokia has a 1-year low of $3.91 and a 1-year high of $8.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The stock has a market cap of $36.83 billion, a P/E ratio of 38.03 and a beta of 0.84. The stock’s 50 day simple moving average is $5.38 and its 200-day simple moving average is $5.04.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts predict that Nokia will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Wealthquest Corp acquired a new stake in shares of Nokia in the first quarter valued at $27,000. Harbour Investments Inc. grew its position in Nokia by 7,046.5% in the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after acquiring an additional 5,003 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Nokia during the second quarter worth about $34,000. Assetmark Inc. lifted its position in shares of Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after purchasing an additional 7,286 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Nokia by 677.1% in the second quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company’s stock valued at $44,000 after purchasing an additional 7,394 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.