Nokia Oyj (NOK) Shares Gap Up After Better-Than-Expected Earnings

Nokia Oyj (NYSE:NOK)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.11, but opened at $5.32. Nokia Oyj shares last traded at $5.58, with a volume of 46136629 shares.

The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Nokia Oyj had a positive return on equity of 7.91% and a negative net margin of 4.12%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.56 billion.

A number of research firms have recently issued reports on NOK. Canaccord Genuity raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. DNB Markets raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Wednesday. ValuEngine raised Nokia Oyj from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Exane BNP Paribas downgraded Nokia Oyj from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.79.



Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ariel Investments LLC lifted its stake in shares of Nokia Oyj by 0.8% during the 2nd quarter. Ariel Investments LLC now owns 24,242,239 shares of the technology company’s stock worth $139,393,000 after purchasing an additional 187,280 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Nokia Oyj by 9.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,294,846 shares of the technology company’s stock worth $68,605,000 after purchasing an additional 1,099,135 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of Nokia Oyj by 2,240.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock worth $55,269,000 after purchasing an additional 9,201,275 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Nokia Oyj by 0.3% during the 2nd quarter. Northern Trust Corp now owns 5,583,259 shares of the technology company’s stock worth $32,102,000 after purchasing an additional 18,115 shares during the last quarter. Finally, Natixis lifted its stake in shares of Nokia Oyj by 584.2% during the 2nd quarter. Natixis now owns 5,000,974 shares of the technology company’s stock worth $28,756,000 after purchasing an additional 4,270,000 shares during the last quarter. Hedge funds and other institutional investors own 6.84% of the company’s stock.

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.37 and a quick ratio of 1.14. The company has a market capitalization of $29.96 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 2.22 and a beta of 0.86.

Nokia Oyj Company Profile (NYSE:NOK)

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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