RBC Capital Lowers Nokia to Sector Perform (NOK)
Nokia (NYSE: NOK) was downgraded by equities research analysts at RBC Capital (NYSE: RY) from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday. They currently have a $5.00 price target on the stock, down from their previous price target of $7.00.
A number of other firms have also recently commented on NOK. Analysts at Evercore Partners upgraded shares of Nokia from an “underweight” rating to an “equal weight” rating in a research note to investors on Friday, April 20th. Separately, analysts at Benchmark Co. upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note to investors on Thursday, April 19th. They now have a $45.00 price target on the stock. Finally, analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of Nokia in a research note to investors on Thursday, April 19th.
Nokia opened at 3.65 on Monday. Nokia has a 52-week low of $3.54 and a 52-week high of $9.38. The company’s market cap is $13.545 billion.
The company last announced its quarterly results on Thursday, April 19th. It reported ($0.08) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.07) EPS by $0.01. The company’s quarterly revenue was down 29.3% on a year-over-year basis. Analysts expect that Nokia will post $-0.04 EPS next quarter.
Nokia Oyj (Nokia) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.