Nokia Oyj (NYSE:NOK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Nokia Oyj (NYSE:NOK) issued its quarterly earnings results on Thursday. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05, Zacks reports. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%.

Nokia Oyj Price Performance

NYSE NOK traded up $0.31 during trading on Thursday, reaching $4.75. 38,421,521 shares of the company traded hands, compared to its average volume of 17,836,439. The stock’s 50 day moving average price is $4.42 and its two-hundred day moving average price is $4.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $4.95. The company has a market cap of $25.87 billion, a price-to-earnings ratio of 59.31, a P/E/G ratio of 5.72 and a beta of 1.06.

Analysts Set New Price Targets

Several research analysts recently commented on NOK shares. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Northland Securities reissued an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.86.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.