Nokia Oyj (NOK) Set to Announce Quarterly Earnings on Thursday

Nokia Oyj (NYSE:NOK) will be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the business posted $0.16 earnings per share. On average, analysts expect Nokia Oyj to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Nokia Oyj Trading Up 0.8 %

Shares of NOK stock opened at $3.33 on Wednesday. The business’s 50 day moving average is $3.54 and its two-hundred day moving average is $3.47. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.87. The company has a market capitalization of $18.73 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors have recently added to or reduced their stakes in the business. Burford Brothers Inc. purchased a new stake in Nokia Oyj during the fourth quarter valued at about $68,000. Vident Advisory LLC grew its position in Nokia Oyj by 6.2% during the fourth quarter. Vident Advisory LLC now owns 150,043 shares of the technology company’s stock valued at $513,000 after acquiring an additional 8,712 shares during the period. Profund Advisors LLC grew its position in Nokia Oyj by 69.2% during the fourth quarter. Profund Advisors LLC now owns 128,358 shares of the technology company’s stock valued at $439,000 after acquiring an additional 52,516 shares during the period. Royal Bank of Canada boosted its position in shares of Nokia Oyj by 16.1% in the fourth quarter. Royal Bank of Canada now owns 3,440,093 shares of the technology company’s stock worth $11,765,000 after buying an additional 477,269 shares during the period. Finally, Pathstone Holdings LLC purchased a new stake in shares of Nokia Oyj in the fourth quarter worth about $425,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on NOK. Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. BNP Paribas began coverage on Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Nokia Oyj presently has an average rating of “Hold” and an average price target of $4.42.

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.