Nokia Corporation (NOK) Cut to Hold at Argus

Argus downgraded shares of Nokia Corporation (NYSE:NOK) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat.com reports. They currently have $4.91 target price on the technology company’s stock, up from their prior target price of $4.76.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Nokia Corporation from a buy rating to a hold rating in a report on Tuesday, August 8th. Vetr raised shares of Nokia Corporation from a hold rating to a buy rating and set a $6.37 price objective on the stock in a report on Monday, September 25th. BNP Paribas lowered shares of Nokia Corporation from a neutral rating to an underperform rating in a report on Thursday, September 21st. Canaccord Genuity decreased their price objective on shares of Nokia Corporation from $7.00 to $5.50 and set a hold rating on the stock in a report on Friday, October 27th. Finally, Credit Suisse Group reissued a neutral rating on shares of Nokia Corporation in a report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. Nokia Corporation currently has an average rating of Hold and an average target price of $5.75.

Nokia Corporation (NYSE:NOK) last posted its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia Corporation had a negative net margin of 2.09% and a positive return on equity of 9.88%. The business had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year.

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Large investors have recently made changes to their positions in the stock. Institute for Wealth Management LLC. acquired a new stake in shares of Nokia Corporation in the 2nd quarter valued at approximately $116,000. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Nokia Corporation in the 2nd quarter valued at approximately $119,000. Geneva Advisors LLC acquired a new stake in shares of Nokia Corporation in the 2nd quarter valued at approximately $125,000. Cutter & CO Brokerage Inc. raised its position in shares of Nokia Corporation by 8.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock valued at $142,000 after acquiring an additional 1,801 shares during the period. Finally, First Command Bank raised its position in shares of Nokia Corporation by 100.0% in the 2nd quarter. First Command Bank now owns 25,788 shares of the technology company’s stock valued at $158,000 after acquiring an additional 12,894 shares during the period. Institutional investors and hedge funds 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.

Analyst Recommendations for Nokia Corporation (NYSE:NOK)

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