Nomura Securities Q2 View on Nokia (NOK): Cash Position Fragile, Smartphones Hit, Outlook Weak
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Price: $10.76 +1.89%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target of EUR2.00.
Analyst, Stuart Jeffrey, highlighted NOK's Q2 points including: 1) Revenues exceeded expectations by 3% in Devices and NSN; 2) Adjusted EPS loss of EUR 0.08 beat consensus by 1c; and 3) Cash of EUR 4.2bn was EUR 300m ahead of our expectations.
In conclusion, Jeffrey, said, "Nokia’s outlook remains weak, with the company highlighting a challenging Q3 on account of product transitions (ie, the launch of
Windows Phone 8 (Nasdaq: MSFT) and the inability of current models to be upgraded). The company is guiding for a device-adjusted EBIT margin of -5% to - 13%, which compares to a consensus of 5%. At NSN, adjusted EBIT margins are expected to exceed 0.8%, ahead of consensus of -0.4%."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $1.73 yesterday.
Analyst, Stuart Jeffrey, highlighted NOK's Q2 points including: 1) Revenues exceeded expectations by 3% in Devices and NSN; 2) Adjusted EPS loss of EUR 0.08 beat consensus by 1c; and 3) Cash of EUR 4.2bn was EUR 300m ahead of our expectations.
In conclusion, Jeffrey, said, "Nokia’s outlook remains weak, with the company highlighting a challenging Q3 on account of product transitions (ie, the launch of
Windows Phone 8 (Nasdaq: MSFT) and the inability of current models to be upgraded). The company is guiding for a device-adjusted EBIT margin of -5% to - 13%, which compares to a consensus of 5%. At NSN, adjusted EBIT margins are expected to exceed 0.8%, ahead of consensus of -0.4%."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $1.73 yesterday.
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