Asset research analysts tell that Nokia Corporation (ADR) (NYSE:NOK) was downgraded at Oppenheime from “market perform” rating to an “underperform” rating when a research journal released for investors on Monday.
Various analysts had given the statement that Nokia stock is being lowered due to stiff smartphone competition from Apple Inc, Google and Samsung. Nokia Siemens Network margins and profit expenses increased. Nokia’s officials have done a lot to smooth their business, but this will be done more well by reducing costs effectively (mobile and NSN) than smartphone operational costs.
Major cost reduction is possible but bottom side gains appear from sustainable smartphones popularity. This will be a difficult game to compete accelerating smart phones in year 2013 including iPhones and Android devices. Continuous drag of smartphones is losing confidence of investors.
Shares of Nokia were downgraded from a buy rating to a hold rating was published in a research journal for investors and this analysis was done by needham & company on Thursday July 18th. Along with this Wells Fargo & Co’s analysts emphasized on market perform rating of Nokia shares in a research journal for investors on Thursday July 18th .They set price target at $4.00 price on the stock. Also analysis report prepared by Canaccord Genuity emphasized on sell rating of Nokia shares in a research journal for investors on Wednesday july 10th.
Analysis done by twelve research analysts rated the stock with sell rating, Hold rating was assigned by eleven research analysts and buy rating was assigned by seven analysts of the company’s stock. Current stock has a compromised rating of Hold with compromised price target $3.63.
Quarterly data of Nokia (NYSE:NOK) was last issued on Thursday, july 18th. For this quarter company’s per share earnings reported at $0.00, defeating analysts, compromised estimate of $0.02 In this quarter company has income of $5.70 billion. Company declared $0.08 earnings per share in the same quarter last year. Revenue of Nokia was decreased by 24.5% comparing with the same quarter of last year. In the current fiscal year company will deliver $0.04 EPS according to the analysts.