Nokia Oyj (NYSE:NOK) Shares Gap Down After Earnings Miss

Shares of Nokia Oyj (NYSE:NOK) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.31, but opened at $4.95. Nokia Oyj shares last traded at $4.77, with a volume of 19,887,171 shares.

The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.47 billion.

Analyst Ratings Changes

NOK has been the topic of several recent research reports. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Finally, Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and an average price target of $5.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealthquest Corp bought a new position in shares of Nokia Oyj during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its stake in Nokia Oyj by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after acquiring an additional 2,651 shares during the period. Foundations Investment Advisors LLC purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at $45,000. Merit Financial Group LLC purchased a new position in shares of Nokia Oyj during the 1st quarter valued at about $54,000. Finally, D.A. Davidson & CO. purchased a new stake in Nokia Oyj in the 4th quarter worth approximately $46,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The stock has a market capitalization of $27.21 billion, a PE ratio of 19.96, a P/E/G ratio of 6.43 and a beta of 0.97. The stock’s fifty day moving average is $5.09 and its 200-day moving average is $4.72.

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.