Nokia Oyj (NYSE:NOK) Expected to Post Earnings of $0.03 Per Share

Wall Street brokerages expect Nokia Oyj (NYSE:NOK) to report earnings per share (EPS) of $0.03 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Nokia Oyj’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.04. Nokia Oyj posted earnings of $0.06 per share in the same quarter last year, which suggests a negative year over year growth rate of 50%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 23rd.

On average, analysts expect that Nokia Oyj will report full-year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.25. For the next financial year, analysts forecast that the firm will post earnings of $0.34 per share, with EPS estimates ranging from $0.31 to $0.36. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Nokia Oyj.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, April 30th. The technology company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. Nokia Oyj had a net margin of 1.43% and a return on equity of 9.14%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.78 billion.

A number of equities research analysts have weighed in on NOK shares. Northland Securities reissued a “buy” rating and set a $6.00 target price on shares of Nokia Oyj in a report on Friday, April 17th. ValuEngine downgraded shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Canaccord Genuity restated a “buy” rating and issued a $5.50 price target on shares of Nokia Oyj in a research report on Thursday, April 30th. MKM Partners dropped their price target on shares of Nokia Oyj from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.20 to $5.50 in a research report on Monday, June 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $4.59.

Several institutional investors have recently added to or reduced their stakes in the stock. Folketrygdfondet lifted its position in shares of Nokia Oyj by 10.5% during the 4th quarter. Folketrygdfondet now owns 27,411,567 shares of the technology company’s stock valued at $101,697,000 after acquiring an additional 2,607,365 shares during the period. Jane Street Group LLC lifted its position in shares of Nokia Oyj by 4,643.3% during the 4th quarter. Jane Street Group LLC now owns 5,694,280 shares of the technology company’s stock valued at $21,125,000 after acquiring an additional 5,574,232 shares during the period. Morgan Stanley lifted its position in shares of Nokia Oyj by 12.2% during the 1st quarter. Morgan Stanley now owns 5,341,699 shares of the technology company’s stock valued at $16,560,000 after acquiring an additional 580,096 shares during the period. Credit Suisse AG lifted its position in shares of Nokia Oyj by 538.9% during the 4th quarter. Credit Suisse AG now owns 4,192,770 shares of the technology company’s stock valued at $15,555,000 after acquiring an additional 3,536,541 shares during the period. Finally, Formula Growth Ltd. lifted its position in shares of Nokia Oyj by 91.3% during the 4th quarter. Formula Growth Ltd. now owns 4,170,000 shares of the technology company’s stock valued at $15,471,000 after acquiring an additional 1,990,000 shares during the period. Institutional investors own 4.50% of the company’s stock.

NOK traded down $0.11 during trading on Friday, reaching $4.34. 40,903,981 shares of the company’s stock were exchanged, compared to its average volume of 33,728,964. Nokia Oyj has a one year low of $2.34 and a one year high of $5.77. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $24.97 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 1.38 and a beta of 0.56. The firm has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $3.72.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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