Nokia (NYSE:NOK) Trading Down 5.9% - Time to Sell?

Key Points

• Nokia shares fell 5.9% to $8.40 in heavy trading, with about 93.3 million shares changing hands—13% above average volume.
• Analyst sentiment remains generally positive despite the decline: Nokia has a “Moderate Buy” consensus rating and a $12.57 average price target, though one firm downgraded the stock to “Hold.”
• In its latest quarter, Nokia reported EPS of $0.08, beating estimates by $0.01, while revenue rose 8.4% year over year to $5.50 billion but came in below expectations.

Nokia Corporation (NYSE:NOK - Get Free Report) shares fell 5.9% during mid-day trading on Wednesday . The company traded as low as $8.37 and last traded at $8.40. Approximately 93,250,304 shares traded hands during trading, an increase of 13% from the average session volume of 82,159,508 shares. The stock had previously closed at $8.93.

Analyst Ratings Changes

A number of research firms have weighed in on NOK. Wall Street Zen downgraded shares of Nokia from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Nokia in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Nokia in a research report on Friday, May 15th. Arete Research raised shares of Nokia from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Nokia from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.57.

Nokia Price Performance

The company has a market cap of $48.23 billion, a price-to-earnings ratio of 60.00, a P/E/G ratio of 1.05 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The company's 50 day moving average price is $13.18 and its 200 day moving average price is $10.32.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. On average, equities research analysts predict that Nokia Corporation will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of large investors have recently bought and sold shares of NOK. J2 Capital Management Inc raised its position in Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock valued at $548,000 after purchasing an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock valued at $145,000 after buying an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock valued at $97,000 after buying an additional 1,483 shares during the last quarter. Xponance LLC raised its holdings in shares of Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after buying an additional 1,567 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock worth $118,000 after buying an additional 1,591 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia's core activities center on designing, building and supporting communications networks and related software.

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