Nokia Oyj to Post Q2 2024 Earnings of $0.02 Per Share, Northland Capmk Forecasts (NYSE:NOK)

Nokia Oyj (NYSE:NOK) – Analysts at Northland Capmk dropped their Q2 2024 earnings per share estimates for Nokia Oyj in a report issued on Friday, April 19th. Northland Capmk analyst T. Savageaux now forecasts that the technology company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Nokia Oyj’s current full-year earnings is $0.38 per share. Northland Capmk also issued estimates for Nokia Oyj’s Q4 2024 earnings at $0.18 EPS.

Several other brokerages also recently issued reports on NOK. StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday, April 16th. BNP Paribas started coverage on Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Finally, Barclays downgraded shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Nokia Oyj currently has an average rating of “Hold” and an average price target of $4.42.

Nokia Oyj Stock Performance

Shares of NOK opened at $3.70 on Monday. The company has a 50-day moving average of $3.54 and a two-hundred day moving average of $3.47. The stock has a market cap of $20.84 billion, a P/E ratio of 23.13, a PEG ratio of 0.98 and a beta of 1.09. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.36. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. During the same quarter in the prior year, the business earned $0.16 EPS.

Hedge Funds Weigh In On Nokia Oyj

Several large investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in shares of Nokia Oyj by 8.6% during the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock valued at $120,000 after acquiring an additional 2,788 shares during the last quarter. First Affirmative Financial Network increased its position in Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,932 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the period. Gallacher Capital Management LLC raised its stake in Nokia Oyj by 4.5% during the fourth quarter. Gallacher Capital Management LLC now owns 71,221 shares of the technology company’s stock worth $244,000 after purchasing an additional 3,069 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in shares of Nokia Oyj by 5.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 59,924 shares of the technology company’s stock valued at $205,000 after purchasing an additional 3,129 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be paid a $0.0323 dividend. The ex-dividend date is Monday, April 22nd. This represents a $0.13 annualized dividend and a yield of 3.49%. Nokia Oyj’s payout ratio is currently 56.25%.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.