Nokia Oyj (NYSE:NOK) to Post Q2 2024 Earnings of $0.02 Per Share, Northland Capmk Forecasts

Nokia Oyj (NYSE:NOK) – Research analysts at Northland Capmk lowered their Q2 2024 EPS estimates for Nokia Oyj in a report released 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 released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. The business had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

A number of other research firms also recently issued reports on NOK. StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. BNP Paribas initiated coverage on Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating for the company. Barclays cut Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Stock Down 0.3 %

Shares of NYSE:NOK opened at $3.68 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.64 and a quick ratio of 1.40. Nokia Oyj has a one year low of $2.94 and a one year high of $4.36. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 0.98 and a beta of 1.09. The firm has a fifty day moving average price of $3.54 and a two-hundred day moving average price of $3.47.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its stake in shares of Nokia Oyj by 7.9% during the 3rd quarter. AE Wealth Management LLC now owns 48,136 shares of the technology company’s stock valued at $180,000 after purchasing an additional 3,530 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Nokia Oyj by 2,165.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 32,696 shares of the technology company’s stock valued at $122,000 after buying an additional 31,253 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Nokia Oyj by 30.3% during the third quarter. Arkadios Wealth Advisors now owns 20,925 shares of the technology company’s stock valued at $78,000 after purchasing an additional 4,863 shares in the last quarter. First Affirmative Financial Network lifted its stake in shares of Nokia Oyj by 21.6% during the 3rd quarter. First Affirmative Financial Network now owns 23,107 shares of the technology company’s stock valued at $86,000 after buying an additional 4,100 shares in the last quarter. Finally, Five Oceans Advisors lifted its position in shares of Nokia Oyj by 39.4% in the third quarter. Five Oceans Advisors now owns 19,736 shares of the technology company’s stock valued at $74,000 after acquiring an additional 5,577 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be paid a $0.0323 dividend. 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 3.51%. Nokia Oyj’s dividend payout ratio is presently 56.25%.

Nokia Oyj Company Profile

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.