$6.41 Billion in Sales Expected for Nokia Oyj (NYSE:NOK) This Quarter

Analysts predict that Nokia Oyj (NYSE:NOK) will post $6.41 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Nokia Oyj’s earnings. The highest sales estimate is $6.49 billion and the lowest is $6.34 billion. Nokia Oyj posted sales of $6.32 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is scheduled to issue its next earnings results on Thursday, October 22nd.

On average, analysts expect that Nokia Oyj will report full-year sales of $25.61 billion for the current year, with estimates ranging from $25.16 billion to $26.08 billion. For the next financial year, analysts expect that the company will post sales of $26.42 billion, with estimates ranging from $26.23 billion to $26.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Nokia Oyj.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Friday, July 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Nokia Oyj had a return on equity of 9.26% and a net margin of 2.76%.

NOK has been the subject of several research reports. DZ Bank reaffirmed a “buy” rating on shares of Nokia Oyj in a research note on Tuesday, September 8th. Raymond James cut shares of Nokia Oyj from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 8th. JPMorgan Chase & Co. cut shares of Nokia Oyj from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 8th. Northland Securities initiated coverage on shares of Nokia Oyj in a research note on Tuesday, July 14th. They set a “buy” rating and a $6.00 price target for the company. Finally, Barclays reaffirmed an “equal weight” rating on shares of Nokia Oyj in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Nokia Oyj presently has an average rating of “Hold” and an average price target of $4.59.

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in Nokia Oyj by 113.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock valued at $30,000 after purchasing an additional 3,688 shares during the last quarter. Cape Cod Five Cents Savings Bank acquired a new stake in shares of Nokia Oyj during the first quarter worth $31,000. Wealthsource Partners LLC acquired a new stake in shares of Nokia Oyj during the first quarter worth $32,000. Level Four Advisory Services LLC acquired a new stake in shares of Nokia Oyj during the first quarter worth $32,000. Finally, DRW Securities LLC acquired a new stake in shares of Nokia Oyj during the first quarter worth $34,000. 4.39% of the stock is owned by institutional investors and hedge funds.

Shares of NOK traded up $0.12 during mid-day trading on Monday, hitting $3.90. 27,896,845 shares of the company’s stock were exchanged, compared to its average volume of 32,412,141. The company has a market cap of $21.88 billion, a PE ratio of 32.50, a P/E/G ratio of 0.94 and a beta of 0.52. Nokia Oyj has a 52 week low of $2.34 and a 52 week high of $5.28. The company has a 50-day simple moving average of $4.55 and a 200 day simple moving average of $4.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.50 and a quick ratio of 1.26.

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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