Nokia Corporation (ADR) (NYSE:NOK) has been downgraded by financial firm Oppenheimer to Underperform from Perform, with no price target.
Ittai Kidron one of the analysts of the firm has said in his comment that NOK handset business will be a consistent drag on financials after increase in competition in the end of this year.
No doubt the company has launch a new handset Lumia 1020, but the timing of the handset launch is not accurate as Samsung and Apple Inc (NASDAQ: AAPL) are decreasing the tag prices of their popular handsets to offer more tough competition.
Kidron further in his comment has added that the Nokia Siemens Networks (NSN) will be a main stability point for Finnish company. But continued asset sales and cost cuts will not be viable part of the strategy for NSN.
Stock of Nokia Corporation (ADR) (NYSE:NOK) fell -0.62% in current trading session and is trading at $3.99 with average volume 32.21 million shares. Nokia Corporation generated income of $-3199.80 million in last twelve months and sales of $37.47 billion. Analytic Ratios; Price to sales ratio of NOK in past twelve months was calculated as 0.40 and price to cash ratio as 1.11. NOK return on equity ratio is recorded as -58.90% and its return on assets is -16.00%.