Research Analysts Issue Forecasts for Nokia Oyj’s Q2 2024 Earnings (NYSE:NOK)

Nokia Oyj (NYSE:NOK) – Equities researchers at Northland Capmk reduced their Q2 2024 earnings estimates for shares of Nokia Oyj in a research note issued on Friday, April 19th. Northland Capmk analyst T. Savageaux now expects that the technology company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Nokia Oyj’s current full-year earnings is $0.38 per share. Northland Capmk also issued estimates for Nokia Oyj’s Q4 2024 earnings at $0.18 EPS.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. During the same quarter in the prior year, the firm earned $0.16 earnings per share.

NOK has been the topic of several other research reports. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Finally, BNP Paribas started coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Hold” and an average price target of $4.42.

Nokia Oyj Stock Up 5.1 %

Nokia Oyj stock opened at $3.70 on Monday. The business’s 50-day moving average price is $3.54 and its 200 day moving average price is $3.47. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Axxcess Wealth Management LLC acquired a new position in shares of Nokia Oyj during the third quarter valued at approximately $67,000. Sowell Financial Services LLC purchased a new position in Nokia Oyj in the 4th quarter valued at $333,000. O Shaughnessy Asset Management LLC lifted its holdings in Nokia Oyj by 22.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,396 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,767 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Nokia Oyj during the 3rd quarter worth $768,000. Finally, Walleye Capital LLC purchased a new stake in shares of Nokia Oyj during the third quarter worth $12,591,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.0323 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.49%. Nokia Oyj’s dividend payout ratio is currently 56.25%.

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.