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%.
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.
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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