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

Wall Street brokerages expect that Nokia Oyj (NYSE:NOK) will announce $5.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Nokia Oyj’s earnings, with estimates ranging from $5.57 billion to $5.70 billion. Nokia Oyj reported sales of $6.40 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 12%. The business is scheduled to issue its next earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Nokia Oyj will report full year sales of $25.05 billion for the current fiscal year, with estimates ranging from $24.44 billion to $25.62 billion. For the next financial year, analysts forecast that the firm will post sales of $26.14 billion, with estimates ranging from $25.84 billion to $26.45 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Nokia Oyj.

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

A number of analysts have recently issued reports on NOK shares. ValuEngine cut Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.20 to $5.50 in a research report on Monday, June 1st. Northland Securities reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Nokia Oyj in a research report on Friday, April 17th. DZ Bank reaffirmed a “buy” rating on shares of Nokia Oyj in a research report on Friday, March 27th. Finally, MKM Partners cut their price objective on Nokia Oyj from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Nokia Oyj presently has an average rating of “Buy” and an average price target of $4.59.

NOK stock traded up $0.01 during mid-day trading 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 debt-to-equity ratio of 0.30, a current ratio of 1.37 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $4.06 and a two-hundred day simple moving average of $3.73. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.15 and a beta of 0.55. Nokia Oyj has a 52 week low of $2.34 and a 52 week high of $5.77.

Several institutional investors and hedge funds have recently modified their holdings of the company. Altavista Wealth Management Inc. increased its stake in shares of Nokia Oyj by 4.3% in the 4th quarter. Altavista Wealth Management Inc. now owns 67,200 shares of the technology company’s stock valued at $249,000 after purchasing an additional 2,800 shares during the last quarter. Headinvest LLC grew its position in Nokia Oyj by 20.0% during the 1st quarter. Headinvest LLC now owns 18,000 shares of the technology company’s stock worth $103,000 after acquiring an additional 3,000 shares during the last quarter. AlphaMark Advisors LLC grew its position in Nokia Oyj by 0.5% during the 1st quarter. AlphaMark Advisors LLC now owns 566,321 shares of the technology company’s stock worth $1,756,000 after acquiring an additional 3,062 shares during the last quarter. Lincoln National Corp grew its position in Nokia Oyj by 24.4% during the 4th quarter. Lincoln National Corp now owns 15,826 shares of the technology company’s stock worth $59,000 after acquiring an additional 3,100 shares during the last quarter. Finally, US Bancorp DE grew its position in Nokia Oyj by 1.5% during the 1st quarter. US Bancorp DE now owns 222,024 shares of the technology company’s stock worth $688,000 after acquiring an additional 3,299 shares during the last quarter. Institutional investors 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).

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