Today’s Stock On Watch: Could Nokia Corp (ADR) Change Direction After Reaching Yearly Low?

Today's Stock On Watch: Could Nokia Corp (ADR) Change Direction After Reaching Yearly Low?

The stock of Nokia Corp (ADR) (NYSE:NOK) hit a new 52-week low and has $4.15 target or 6.00% below today’s $4.41 share price. The 8 months bearish chart indicates high risk for the $25.39B company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $4.15 price target is reached, the company will be worth $1.52 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 11.46M shares traded hands. Nokia Corp (ADR) (NYSE:NOK) has declined 25.70% since March 30, 2016 and is downtrending. It has underperformed by 28.72% the S&P500.

Analysts await Nokia Corp (ADR) (NYSE:NOK) to report earnings on November, 3. They expect $0.05 earnings per share, down 44.44% or $0.04 from last year’s $0.09 per share. NOK’s profit will be $287.87M for 22.05 P/E if the $0.05 EPS becomes a reality. After $0.04 actual earnings per share 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 17 analysts covering Nokia (NYSE:NOK), 11 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 65% are positive. Nokia has been the topic of 20 analyst reports since August 26, 2015 according to StockzIntelligence Inc. As per Wednesday, August 26, the company rating was upgraded by Danske Bank. Argus Research upgraded Nokia Corp (ADR) (NYSE:NOK) on Friday, January 15 to “Buy” rating. The rating was maintained by Bernstein on Thursday, September 3 with “Outperform”. The rating was upgraded by Credit Suisse to “Outperform” on Tuesday, December 1. The firm has “Outperform” rating by CLSA given on Wednesday, May 25. The stock has “Market Perform” rating given by Raymond James on Friday, May 6. TheStreet upgraded the shares of NOK in a report on Friday, October 16 to “Buy” rating. The rating was upgraded by Argus Research on Monday, January 18 to “Buy”. On Friday, May 13 the stock rating was upgraded by Bank of America to “Buy”. JP Morgan maintained the stock with “Overweight” rating in Thursday, February 18 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.”

More notable recent Nokia Corp (ADR) (NYSE:NOK) news were published by: Investorplace.com which released: “Why Groupon Inc (GRPN), Nokia Corp (ADR) (NOK) and National-Oilwell Varco, Inc …” on October 27, 2016, also Investorplace.com with their article: “Why Freeport-McMoRan Inc (FCX), Nokia Corp (ADR) (NOK) and Regions Financial …” published on October 13, 2016, Schaeffersresearch.com published: “Analyst Downgrades: Amazon.com, Inc., McKesson Corporation, and Nokia Corp” on October 28, 2016. More interesting news about Nokia Corp (ADR) (NYSE:NOK) were released by: Livetradingnews.com and their article: “Nokia Corp (ADR)(NYSE:NOK) Above Average” published on October 13, 2016 as well as Livetradingnews.com‘s news article titled: “Nokia Corp (ADR) (NYSE:NOK) Heffx Technical Analysis with Candlesticks” with publication date: October 27, 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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