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Morgan Stanley Upgrades Nokia Corporation (ADR) to Overweight

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Nokia Corp

According to Zacks, "Shares of Nokia have underperperformed the broader industry over the last one year". Company price to earnings (P/E) ratio, which measures the relationship between the earnings of a company. Weak sales in Mobile Networks, which is part of Ultra Broadband Networks, contributed to the significant decline in the final quarter of 2016. Nokia Corporation (ADR) was Downgraded by Danske Bank to Sell on Jan 25, 2017.

At the end of Sep reporting period, 137 institutional holders increased their position in Nokia Corporation (NYSE:NOK) by some 88,462,214 shares, 117 decreased positions by 16,332,539 and 67 held positions by 225,413,893. Nokia Corporation (ADR) was Upgraded by Morgan Stanley to Overweight on Feb 7, 2017.

Nokia Corporation (NYSE:NOK) reached 22.77% versus a 1-year low price of $4.04. Nokia is a broadly held company with listings on six major exchanges. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.67 average brokerage recommendation. The company now has an average rating of "Hold" and an average target price of $9.68. Furthermore on Jan-13-17 the stock was "Upgraded" by Natixis Bleichroeder from Neutral to Buy. Franklin Resources Inc owns $338.7 million in Nokia Corporation, which represents roughly 1.17% of the company's market cap and approximately 21.02% of the institutional ownership. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $7.55. The firm has a 50-day moving average of $4.77 and a 200-day moving average of $5.04. The analysts offering Earnings Estimates for the company were believing that Nokia Corporation (NYSE:NOK) could bring EPS of $0.08/share. The company reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.05. Nokia Corporation had a negative net margin of 2.96% and a positive return on equity of 6.17%. The companys revenue was down -13.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS. Analysts anticipate that Nokia Corporation will post $0.24 EPS for the current fiscal year.

Nokia Corporation (NYSE:NOK) has received a short term rating of hold from experts at Zacks with a rank of 3. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and global trademark & copyright legislation. Zacks Research also provides ratings from covering sell-side analysts.

Several hedge funds have recently made changes to their positions in the stock. First Allied Advisory Services Inc. now owns 34,132 shares of the technology company's stock valued at $164,000 after buying an additional 15,477 shares during the last quarter. Prospera Financial Services Inc boosted its position in Nokia Corporation by 5.6% in the third quarter. The stock closed down 0.01 points or 0.2% at $4.88 with 6,968,624 shares getting traded. Finally, FNY Partners Fund LP acquired a new position in shares of Nokia Corporation during the fourth quarter valued at about $361,000. Checchi Capital Advisers LLC boosted its position in Nokia Corporation by 0.6% in the third quarter. 2 Wall Street Firms have rated the stock as a strong buys. Private Advisor Group LLC now owns 38,121 shares of the technology company's stock valued at $182,000 after buying an additional 6,024 shares during the last quarter. HighTower Advisors LLC now owns 98,152 shares of the technology company's stock worth $570,000 after buying an additional 5,174 shares during the period. The Company's segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.

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