Nokia Corporation (NOK) Downgraded by Vetr Inc.

Vetr downgraded shares of Nokia Corporation (NYSE:NOK) from a strong-buy rating to a hold rating in a report released on Monday morning. The brokerage currently has $6.37 price target on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Nokia Corporation from a hold rating to a buy rating in a research report on Sunday, July 16th. Societe Generale initiated coverage on shares of Nokia Corporation in a research report on Wednesday, June 14th. They set a buy rating on the stock. Canaccord Genuity reiterated a hold rating and set a $7.00 price target on shares of Nokia Corporation in a research report on Thursday, July 27th. BMO Capital Markets set a $6.00 price target on shares of Nokia Corporation and gave the company a hold rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of Nokia Corporation from a buy rating to a hold rating in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. Nokia Corporation presently has an average rating of Hold and a consensus price target of $5.91.

Nokia Corporation (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the company earned $0.03 earnings per share. Nokia Corporation’s quarterly revenue was up .8% on a year-over-year basis.

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A number of institutional investors have recently modified their holdings of NOK. Alliancebernstein L.P. lifted its position in Nokia Corporation by 108.2% during the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock valued at $112,821,000 after purchasing an additional 10,817,897 shares during the period. Stelliam Investment Management LP bought a new position in Nokia Corporation during the first quarter valued at approximately $34,268,000. Ariel Investments LLC lifted its position in Nokia Corporation by 21.1% during the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock valued at $175,462,000 after purchasing an additional 5,650,498 shares during the period. Renaissance Technologies LLC lifted its position in Nokia Corporation by 705.5% during the second quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock valued at $20,506,000 after purchasing an additional 2,915,600 shares during the period. Finally, TCW Group Inc. lifted its position in Nokia Corporation by 287.8% during the first quarter. TCW Group Inc. now owns 3,765,373 shares of the technology company’s stock valued at $20,409,000 after purchasing an additional 2,794,357 shares during the period. Institutional investors own 5.85% of the company’s stock.

Nokia Corporation Company Profile

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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