Nokia Co. (NYSE:NOK) Expected to Post Quarterly Sales of $6.06 Billion

Wall Street analysts forecast that Nokia Co. (NYSE:NOK) will report $6.06 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Nokia’s earnings, with the highest sales estimate coming in at $6.78 billion and the lowest estimate coming in at $5.33 billion. Nokia posted sales of $6.19 billion during the same quarter last year, which would indicate a negative year over year growth rate of 2.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Nokia will report full year sales of $26.18 billion for the current fiscal year. For the next financial year, analysts expect that the business will post sales of $26.95 billion, with estimates ranging from $26.58 billion to $27.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Nokia.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Wednesday, July 28th. The technology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Nokia had a negative net margin of 8.09% and a positive return on equity of 14.70%.

Several brokerages have issued reports on NOK. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nokia in a report on Wednesday, September 8th. Exane BNP Paribas raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $7.70 price objective on the stock in a research note on Tuesday, July 6th. JPMorgan Chase & Co. raised shares of Nokia from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $4.30 to $7.80 in a research report on Wednesday, July 14th. Societe Generale reissued a “buy” rating on shares of Nokia in a research report on Tuesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Thursday, July 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7.32.

Shares of Nokia stock traded up $0.21 on Friday, reaching $5.60. 1,151,723 shares of the stock were exchanged, compared to its average volume of 54,287,559. Nokia has a 1-year low of $3.21 and a 1-year high of $9.79. The company has a current ratio of 1.58, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $5.91 and a two-hundred day moving average price of $5.14. The firm has a market capitalization of $31.46 billion, a PE ratio of -14.71, a PEG ratio of 10.35 and a beta of 0.80.

Hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. boosted its stake in Nokia by 2,040.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 21,400 shares of the technology company’s stock worth $114,000 after buying an additional 20,400 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Nokia by 16.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 5,177,198 shares of the technology company’s stock valued at $27,543,000 after purchasing an additional 739,846 shares in the last quarter. Sawtooth Solutions LLC lifted its position in Nokia by 8.5% during the 2nd quarter. Sawtooth Solutions LLC now owns 141,076 shares of the technology company’s stock worth $751,000 after buying an additional 11,017 shares in the last quarter. Comerica Bank lifted its position in Nokia by 0.8% during the 2nd quarter. Comerica Bank now owns 322,740 shares of the technology company’s stock worth $1,901,000 after buying an additional 2,530 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Nokia by 274.4% during the 2nd quarter. Marshall Wace LLP now owns 1,613,516 shares of the technology company’s stock worth $8,584,000 after buying an additional 1,182,608 shares in the last quarter. 8.09% of the stock is currently owned by institutional investors and hedge funds.

About Nokia

Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Networks, Nokia Software, Nokia Technologies, and Group Common and Other. The Networks segment comprises mobile networks, services, fixed networks, and optical networks.

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