Wall Street analysts forecast that Nokia Co. (NYSE:NOK) will announce sales of $6.32 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Nokia’s earnings. The highest sales estimate is $6.36 billion and the lowest is $6.29 billion. Nokia reported sales of $5.61 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The business is scheduled to announce its next quarterly earnings report on Friday, July 30th.
On average, analysts expect that Nokia will report full-year sales of $25.84 billion for the current fiscal year, with estimates ranging from $25.75 billion to $25.92 billion. For the next year, analysts forecast that the firm will report sales of $25.93 billion, with estimates ranging from $25.64 billion to $26.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Nokia.
Nokia (NYSE:NOK) last posted its earnings results on Thursday, April 29th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.01 by $0.07. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Nokia had a positive return on equity of 12.88% and a negative net margin of 9.55%.
Several equities research analysts have recently issued reports on NOK shares. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nokia in a research report on Friday, April 30th. DNB Markets downgraded Nokia from a “buy” rating to a “sell” rating in a research report on Thursday, January 28th. DZ Bank raised Nokia from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Morgan Stanley raised Nokia from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 13th. Finally, Barclays reiterated an “equal weight” rating on shares of Nokia in a research note on Thursday, May 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.75.
Shares of NYSE:NOK opened at $5.05 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. Nokia has a 1 year low of $3.21 and a 1 year high of $9.79. The business has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $4.16. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of -11.74, a P/E/G ratio of 11.76 and a beta of 0.79.
Several hedge funds and other institutional investors have recently bought and sold shares of NOK. Axiom Investment Management LLC bought a new position in shares of Nokia during the first quarter valued at $592,000. Gladstone Institutional Advisory LLC bought a new position in Nokia during the first quarter worth $93,000. Fiduciary Trust Co. bought a new position in Nokia during the first quarter worth $83,000. Flow Traders U.S. LLC acquired a new stake in Nokia in the first quarter worth $120,000. Finally, Frontier Wealth Management LLC grew its holdings in Nokia by 11.9% in the first quarter. Frontier Wealth Management LLC now owns 35,051 shares of the technology company’s stock worth $139,000 after purchasing an additional 3,736 shares during the period. Institutional investors and hedge funds own 4.22% of the company’s stock.
Nokia Corporation provides mobile and fixed network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.
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