Nokia Oyj (NYSE:NOK) Expected to Post Quarterly Sales of $5.63 Billion

Analysts expect that Nokia Oyj (NYSE:NOK) will report $5.63 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Nokia Oyj’s earnings, with the highest sales estimate coming in at $5.70 billion and the lowest estimate coming in at $5.57 billion. Nokia Oyj posted sales of $6.40 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 12%. The company is scheduled to report its next earnings report on Thursday, July 23rd.

On average, analysts expect that Nokia Oyj will report full-year sales of $25.05 billion for the current financial year, with estimates ranging from $24.44 billion to $25.62 billion. For the next fiscal year, analysts forecast that the firm will report sales of $26.14 billion, with estimates ranging from $25.84 billion to $26.45 billion. Zacks Investment Research’s sales averages are a mean 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Nokia Oyj had a net margin of 1.43% and a return on equity of 9.14%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.78 billion.

A number of equities research analysts have commented on NOK shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $5.50 target price on shares of Nokia Oyj in a research report on Thursday, April 30th. DZ Bank reaffirmed a “buy” rating on shares of Nokia Oyj in a research report on Friday, March 27th. MKM Partners cut their target price on shares of Nokia Oyj from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Goldman Sachs Group raised shares of Nokia Oyj from a “sell” rating to a “neutral” rating and set a $2.90 price objective for the company in a research report on Friday, March 27th. Finally, ValuEngine downgraded shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Nokia Oyj has an average rating of “Buy” and an average target price of $4.59.

NYSE:NOK traded up $0.01 during trading hours on Monday, reaching $4.35. The company had a trading volume of 30,271,204 shares, compared to its average volume of 32,600,871. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30. Nokia Oyj has a 52 week low of $2.34 and a 52 week high of $5.77. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.15 and a beta of 0.55. The firm’s 50 day moving average price is $4.06 and its 200-day moving average price is $3.73.

A number of hedge funds have recently made changes to their positions in NOK. Jane Street Group LLC lifted its stake in Nokia Oyj by 4,643.3% in the 4th quarter. Jane Street Group LLC now owns 5,694,280 shares of the technology company’s stock worth $21,125,000 after purchasing an additional 5,574,232 shares in the last quarter. Credit Suisse AG lifted its stake in Nokia Oyj by 538.9% in the 4th quarter. Credit Suisse AG now owns 4,192,770 shares of the technology company’s stock worth $15,555,000 after purchasing an additional 3,536,541 shares in the last quarter. Folketrygdfondet lifted its stake in Nokia Oyj by 10.5% in the 4th quarter. Folketrygdfondet now owns 27,411,567 shares of the technology company’s stock worth $101,697,000 after purchasing an additional 2,607,365 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Nokia Oyj in the 1st quarter worth $7,035,000. Finally, Two Sigma Investments LP lifted its stake in Nokia Oyj by 4,072.3% in the 1st quarter. Two Sigma Investments LP now owns 2,090,913 shares of the technology company’s stock worth $6,482,000 after purchasing an additional 2,040,799 shares in the last quarter. Institutional investors and hedge funds own 4.50% of the company’s stock.

About Nokia Oyj

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).

Further Reading: Diluted Earnings Per Share

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