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

Analysts expect Nokia Oyj (NYSE:NOK) to report $6.41 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Nokia Oyj’s earnings, with the lowest sales estimate coming in at $6.34 billion and the highest estimate coming in at $6.49 billion. Nokia Oyj reported sales of $6.32 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 22nd.

On average, analysts expect that Nokia Oyj will report full year sales of $25.61 billion for the current fiscal year, with estimates ranging from $25.16 billion to $26.08 billion. For the next fiscal year, analysts anticipate that the company will report sales of $26.42 billion, with estimates ranging from $26.23 billion to $26.61 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Nokia Oyj.

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

NOK has been the subject of several research reports. Deutsche Bank restated a “buy” rating on shares of Nokia Oyj in a research note on Monday, August 3rd. JPMorgan Chase & Co. downgraded shares of Nokia Oyj from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 8th. Barclays restated an “equal weight” rating on shares of Nokia Oyj in a research note on Monday, August 3rd. ValuEngine downgraded shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Finally, DZ Bank reiterated a “buy” rating on shares of Nokia Oyj in a research note on Tuesday, September 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Nokia Oyj presently has an average rating of “Hold” and a consensus target price of $4.59.

Several large investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Nokia Oyj by 20.6% in the second quarter. Cullen Frost Bankers Inc. now owns 13,087 shares of the technology company’s stock valued at $58,000 after buying an additional 2,237 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Nokia Oyj by 18.8% in the second quarter. AE Wealth Management LLC now owns 14,538 shares of the technology company’s stock valued at $64,000 after buying an additional 2,302 shares during the last quarter. JustInvest LLC raised its holdings in shares of Nokia Oyj by 10.5% in the second quarter. JustInvest LLC now owns 29,508 shares of the technology company’s stock valued at $130,000 after buying an additional 2,807 shares during the last quarter. Aspiriant LLC raised its holdings in shares of Nokia Oyj by 14.4% in the second quarter. Aspiriant LLC now owns 23,378 shares of the technology company’s stock valued at $103,000 after buying an additional 2,937 shares during the last quarter. Finally, Headinvest LLC raised its holdings in shares of Nokia Oyj by 20.0% in the first quarter. Headinvest LLC now owns 18,000 shares of the technology company’s stock valued at $103,000 after buying an additional 3,000 shares during the last quarter. 4.39% of the stock is owned by institutional investors and hedge funds.

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

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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