Wall Street brokerages expect Nokia Corporation (NYSE:NOK) to report sales of $6.26 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Nokia Corporation’s earnings, with the highest sales estimate coming in at $6.41 billion and the lowest estimate coming in at $6.11 billion. Nokia Corporation reported sales of $6.57 billion in the same quarter last year, which indicates a negative year over year growth rate of 4.7%. The company is expected to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Nokia Corporation will report full-year sales of $6.26 billion for the current fiscal year, with estimates ranging from $24.89 billion to $26.03 billion. For the next year, analysts expect that the firm will post sales of $25.93 billion per share, with estimates ranging from $25.13 billion to $26.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Nokia Corporation.
Nokia Corporation (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the company earned $0.03 EPS. Nokia Corporation’s quarterly revenue was up .8% on a year-over-year basis.
A number of research analysts recently weighed in on the company. BMO Capital Markets set a $6.00 price objective on Nokia Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. BidaskClub lowered Nokia Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price objective on shares of Nokia Corporation in a report on Thursday, July 27th. Vetr raised Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.22 price objective on the stock in a report on Wednesday, August 9th. Finally, Citigroup Inc. assumed coverage on Nokia Corporation in a report on Thursday, June 8th. They set a “neutral” rating and a $6.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Nokia Corporation presently has an average rating of “Hold” and an average price target of $5.97.
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Shares of Nokia Corporation (NOK) traded down 0.96% during trading on Wednesday, reaching $6.19. 10,104,328 shares of the company traded hands. Nokia Corporation has a 1-year low of $4.04 and a 1-year high of $6.65. The company’s market capitalization is $34.98 billion. The stock’s 50 day moving average is $6.30 and its 200 day moving average is $5.82.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in Nokia Corporation by 216.6% in the first quarter. Wells Fargo & Company MN now owns 819,744 shares of the technology company’s stock valued at $4,443,000 after buying an additional 560,797 shares during the last quarter. Greenleaf Trust acquired a new position in Nokia Corporation during the first quarter valued at approximately $178,000. Wetherby Asset Management Inc. raised its position in Nokia Corporation by 33.2% in the first quarter. Wetherby Asset Management Inc. now owns 51,793 shares of the technology company’s stock valued at $281,000 after buying an additional 12,922 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Nokia Corporation by 20.7% in the first quarter. Cullen Frost Bankers Inc. now owns 223,142 shares of the technology company’s stock valued at $1,209,000 after buying an additional 38,218 shares during the last quarter. Finally, Financial Architects Inc raised its position in Nokia Corporation by 112.9% in the first quarter. Financial Architects Inc now owns 52,182 shares of the technology company’s stock valued at $283,000 after buying an additional 27,668 shares during the last quarter. Hedge funds and other institutional investors own 5.89% of the company’s stock.
Nokia Corporation Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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