Nokia (NYSE:NOK) Cut to Strong Sell at ValuEngine

Samuel Edwards

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ValuEngine cut shares of Nokia (NYSE:NOK) from a sell rating to a strong sell rating in a research note published on Friday morning, ValuEngine reports.

A number of other brokerages have also issued reports on NOK. Deutsche Bank Aktiengesellschaft reiterated a buy rating on shares of Nokia in a research note on Friday. JPMorgan Chase & Co. cut shares of Nokia from an overweight rating to a neutral rating in a research report on Wednesday, July 8th. Barclays reaffirmed an equal weight rating on shares of Nokia in a research report on Monday, August 3rd. Northland Securities began coverage on Nokia in a report on Tuesday, July 14th. They issued a buy rating and a $6.00 target price for the company. Finally, UBS Group restated a buy rating on shares of Nokia in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $4.90.

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Shares of NOK stock opened at $3.37 on Friday. Nokia has a 1-year low of $2.34 and a 1-year high of $5.14. The firm has a market cap of $18.91 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64. The company has a 50-day moving average of $4.02 and a two-hundred day moving average of $4.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.26.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 29th. The technology company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Nokia had a net margin of 2.76% and a return on equity of 9.26%. Sell-side analysts anticipate that Nokia will post 0.28 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of NOK. Parallel Advisors LLC raised its stake in Nokia by 113.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock worth $30,000 after acquiring an additional 3,688 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Nokia in the 2nd quarter valued at about $44,000. Telos Capital Management Inc. purchased a new position in Nokia during the 2nd quarter worth approximately $44,000. FormulaFolio Investments LLC acquired a new position in Nokia during the third quarter worth approximately $40,000. Finally, Howard Wealth Management LLC acquired a new stake in shares of Nokia in the third quarter valued at approximately $40,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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Nokia Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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