MKM Partners Lowers Nokia to Sell (NOK)
Nokia (NYSE: NOK) was downgraded by equities research analysts at MKM Partners from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday. They currently have a $2.00 price target on the stock.
Several other analysts have also recently commented on the stock. Analysts at Wedbush reiterated a “neutral” rating on shares of Nokia in a research note to investors on Tuesday. Separately, analysts at Sterne Agee cut their EPS estimates on shares of Nokia in a research note on Friday. They now have a “buy” rating and a $30.00 price target on the stock. Finally, analysts at Societe Generale downgraded shares of Nokia from a “hold” rating to a “sell” rating in a research note to investors on Monday, May 14th.
Nokia opened at 2.74 on Wednesday. Nokia has a 52-week low of $2.68 and a 52-week high of $7.38. The company’s market cap is $10.168 billion.
Nokia last posted its quarterly earnings results on Thursday, April 19th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.01. Nokia’s revenue was down 29.3% compared to the same quarter last year. Analysts expect that Nokia will post $-0.05 EPS next quarter.
Nokia Oyj (Nokia) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.