IT&Software

Analysts Set Nokia Corporation (NYSE:NOK) Target Price at $6.44

Analysts Set Nokia Corporation (NYSE:NOK) Target Price at $6.44

In early Jan 2016, Nokia Networks gained control of Alcatel-Lucent. In contrast to the year ago quarter EPS was at 0.11. However, the below-par performance of its Networks division continues to hurt Nokia.

A number of research analysts have weighed in on NOK shares. Bank of America Corporation reissued a "neutral" rating on shares of Nokia Corporation in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of Nokia Corporation in a report on Thursday, April 27th. The company now has an average rating of "Hold" and an average price target of $6.24. Finally, Societe Generale assumed coverage on shares of Nokia Corporation in a research report on Wednesday, June 14th. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.4 average brokerage recommendation. They issued a neutral rating and a $6.00 target price on the stock.

Several analysts have released their opinion on Nokia Corporation (NYSE:NOK), with 3 analysts believing it is a strong buy. Considering that the stock daily volume of 11.46 million shares, this represents a pretty noteworthy trading in volume size.

The stock volatility for week was 0.97% while for month was 1.25%.The stock, as of last close, traded 57.43% to its 52 week low and was changed -4.36% from its 52 week high. The stock's market cap is $35.32 billion. This will give analytical advantage to a shorter-term trader since it pursues the price more intimately, and consequently produces less "lag" as comparison to the longer-term moving average.

Nokia Corporation (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 27th.

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As of the latest earnings report the EPS was $-0.09 and is expected to be $0.29 for the current year with 5,651,797,000 shares outstanding. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion.

Moving focus toward profitability ratios, the return on equity was booked as -2.20%, while return on assets was -1.00%. The company's quarterly revenue was up.8% compared to the same quarter past year. During the same period previous year, the business earned $0.03 earnings per share. Equities research analysts forecast that Nokia Corporation will post $0.29 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of NOK. Finally, Teachers Advisors LLC increased its position in shares of Nokia Corporation by 53.3% in the second quarter. Comerica Bank now owns 336,362 shares of the technology company's stock worth $1,598,000 after buying an additional 40,099 shares during the last quarter. Teachers Advisors LLC boosted its position in Nokia Corporation by 53.3% in the second quarter. Alliancebernstein L.P. increased its position in shares of Nokia Corporation by 108.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,986,928 shares of the technology company's stock worth $12,239,000 after buying an additional 709,012 shares during the last quarter. SOL Capital Management CO increased its stake in Nokia Corporation by 41.5% in the first quarter. The Wisconsin-based Morgan Dempsey Capital Management Llc has invested 1.65% in the stock. The Company's business processes, vendor and electronic payment management software and behavioral science analytics manage outcomes for marketplace participants. The Company's segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.