Wall Street Zen Downgrades Nokia (NYSE:NOK) to Hold

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

Other research analysts have also issued research reports about the stock. Raymond James Financial restated 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 report on Wednesday, October 8th. Danske downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Wednesday, October 15th. Finally, BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 3rd. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nokia has a consensus rating of “Moderate Buy” and an average target price of $5.87.

Nokia Trading Down 0.9%

Shares of NOK opened at $6.85 on Friday. Nokia has a twelve month low of $3.91 and a twelve month high of $8.19. The firm has a market capitalization of $36.83 billion, a P/E ratio of 38.03 and a beta of 0.84. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock’s fifty 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 results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts forecast that Nokia will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of Nokia during the 1st quarter valued at approximately $45,207,000. AdvisorShares Investments LLC bought a new stake in Nokia during the second quarter valued at $1,059,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Nokia by 18.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock worth $2,471,000 after purchasing an additional 74,072 shares during the period. Penserra Capital Management LLC lifted its position in shares of Nokia by 51.7% in the 2nd quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock worth $29,132,000 after buying an additional 1,916,098 shares during the last quarter. Finally, TCW Group Inc. acquired a new position in shares of Nokia in the 1st quarter valued at about $425,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

About Nokia

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.