Latest Stocks: Canaccord Genuity Reiterates “Hold” Rating for Nokia Oyj (NOK)

Latest Stocks: Canaccord Genuity Reiterates “Hold” Rating for Nokia Oyj (NOK)

Nokia Oyj (NYSE:NOK)‘s stock had its “hold” rating reissued by stock analysts at Canaccord Genuity in a research note issued to investors on Monday, May 15th, StockTargetPrices.com reports. They currently have a $6.00 target price on the technology company’s stock. Canaccord Genuity’s price target would indicate a potential downside of 8.26% from the stock’s previous close.

NOK has been the subject of several other research reports. Zacks Investment Research downgraded shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Tuesday, January 17th. BMO Capital Markets reissued a “market perform” rating and issued a $4.00 price objective on shares of Nokia Oyj in a research note on Thursday, February 2nd. Vetr downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating and set a $5.52 price objective for the company. in a research note on Monday, February 13th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Nokia Oyj in a research note on Tuesday, February 7th. Finally, Charter Equity raised shares of Nokia Oyj from an “underperform” rating to a “market perform” rating in a research note on Monday, February 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.36.

Nokia Oyj (NOK) opened at 6.54 on Monday. The firm’s 50-day moving average price is $5.98 and its 200-day moving average price is $5.20. Nokia Oyj has a 52-week low of $4.04 and a 52-week high of $6.65. The company’s market cap is $37.17 billion.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Nokia Oyj had a positive return on equity of 6.17% and a negative net margin of 2.96%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities analysts anticipate that Nokia Oyj will post $0.24 EPS for the current year. The firm also recently disclosed a dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be issued a dividend of $0.1824 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. Nokia Oyj’s payout ratio is -142.85%.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Nokia Oyj had a positive return on equity of 6.17% and a negative net margin of 2.96%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities analysts anticipate that Nokia Oyj will post $0.24 EPS for the current year. A number of institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its position in shares of Nokia Oyj by 18.8% in the fourth quarter. Private Advisor Group LLC now owns 38,121 shares of the technology company’s stock valued at $182,000 after buying an additional 6,024 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Nokia Oyj during the fourth quarter valued at about $361,000. Comerica Bank raised its position in shares of Nokia Oyj by 13.5% in the fourth quarter. Comerica Bank now owns 336,362 shares of the technology company’s stock valued at $1,598,000 after buying an additional 40,099 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Nokia Oyj by 20.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 223,774 shares of the technology company’s stock valued at $1,076,000 after buying an additional 37,500 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Nokia Oyj during the fourth quarter valued at about $68,459,000. 5.71% of the stock is currently owned by institutional investors.

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