The stock of Nokia Corp (ADR) (NYSE:NOK) hit a new 52-week low and has $4.60 target or 6.00% below today’s $4.89 share price. The 7 months bearish chart indicates high risk for the $27.16B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $4.60 price target is reached, the company will be worth $1.63 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.49 million shares traded hands. Nokia Corp (ADR) (NYSE:NOK) has declined 14.31% since March 10, 2016 and is downtrending. It has underperformed by 21.83% the S&P500.
Analysts await Nokia Corp (ADR) (NYSE:NOK) to report earnings on November, 3. They expect $0.05 EPS, down 44.44% or $0.04 from last year’s $0.09 per share. NOK’s profit will be $277.71M for 24.45 P/E if the $0.05 EPS becomes a reality. After $0.04 actual EPS reported by Nokia Corp (ADR) for the previous quarter, Wall Street now forecasts 25.00% EPS growth.
Nokia Corp (ADR) (NYSE:NOK) Ratings Coverage
Out of 16 analysts covering Nokia (NYSE:NOK), 12 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 75% are positive. $12.0 is the highest target while $5.75 is the lowest. The $8.58 average target is 75.46% above today’s ($4.89) stock price. Nokia has been the topic of 18 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The rating was upgraded by Nordea to “Sell” on Tuesday, September 1. Credit Suisse upgraded the shares of NOK in a report on Tuesday, December 1 to “Outperform” rating. The firm has “Equal-Weight” rating given on Tuesday, February 16 by Morgan Stanley. The rating was upgraded by Raymond James to “Market Perform” on Friday, May 6. The firm has “Buy” rating given on Monday, September 21 by Deutsche Bank. As per Friday, April 8, the company rating was upgraded by Nordea. Bernstein maintained the stock with “Outperform” rating in Thursday, September 3 report. The rating was upgraded by Bank of America on Friday, May 13 to “Buy”. The rating was upgraded by Argus Research on Friday, January 15 to “Buy”. TheStreet upgraded the stock to “Buy” rating in Friday, October 16 report.
According to Zacks Investment Research, “Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.”
Another recent and important Nokia Corp (ADR) (NYSE:NOK) news was published by Livetradingnews.com which published an article titled: “Nokia Corp (ADR)(NYSE:NOK) Above Average” on October 13, 2016.
NOK Company Profile
Nokia Corporation, incorporated on December 19, 1896, is a global well-known provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s divisions include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies. Mobile Broadband provides mobile operators with network solutions for mobile voice and data services through its Radio and Core business lines. Global Services provides mobile operators with services to create and maintain networks. Nokia Networks Other includes net sales and related cost of sales and operating expenses of non-core businesses. Nokia Technologies focuses on technology development and licensing, and includes net sales from both intellectual property right activities and technology licensing. The Radio business consists of second generation (2G) to fifth generation (5G) technology generations. The Core business has a mobile switching portfolio, as well as voice and packet core solutions.
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