BNP Paribas Lowers Nokia (NOK) to Underperform

BNP Paribas cut shares of Nokia (NYSE:NOK) from a neutral rating to an underperform rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $3.90 target price on the technology company’s stock, down from their prior target price of $5.00.

Several other brokerages have also issued reports on NOK. Zacks Investment Research lowered shares of Nokia from a buy rating to a hold rating in a report on Tuesday, August 8th. Vetr raised shares of Nokia from a hold rating to a buy rating and set a $6.37 price target on the stock in a report on Monday, September 25th. Canaccord Genuity lowered their price target on shares of Nokia from $7.00 to $5.50 and set a hold rating on the stock in a report on Friday, October 27th. J P Morgan Chase & Co reissued a buy rating on shares of Nokia in a report on Friday, October 27th. Finally, Argus lowered shares of Nokia from a buy rating to a hold rating and boosted their price target for the company from $4.76 to $4.91 in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $5.72.

Nokia (NOK) opened at $4.72 on Monday. The company has a market cap of $27,663.91, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.07 and a beta of 1.27. Nokia has a one year low of $4.50 and a one year high of $6.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.59.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.64 billion. Nokia had a negative net margin of 2.09% and a positive return on equity of 9.88%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. equities analysts predict that Nokia will post 0.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC grew its holdings in shares of Nokia by 53.3% in the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock worth $42,796,000 after purchasing an additional 2,414,440 shares during the last quarter. TCW Group Inc. grew its holdings in shares of Nokia by 30.8% in the 3rd quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company’s stock worth $36,327,000 after purchasing an additional 1,429,672 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Nokia by 0.6% in the 2nd quarter. Northern Trust Corp now owns 5,811,715 shares of the technology company’s stock worth $35,801,000 after purchasing an additional 34,906 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Nokia by 17.2% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 4,016,291 shares of the technology company’s stock worth $24,017,000 after purchasing an additional 589,445 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Nokia by 705.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock worth $20,506,000 after purchasing an additional 2,915,600 shares during the last quarter. 5.89% of the stock is currently owned by institutional investors and hedge funds.

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About Nokia

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.

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