Northland Securities Forecasts Increased Earnings for Nokia

Key Points

• Northland Securities raised Nokia’s FY2026 EPS forecast to $0.42 from $0.40, above the $0.40 consensus estimate, and projects FY2027 EPS of $0.50.
• Nokia’s latest quarterly results exceeded expectations, with EPS of $0.10 versus $0.08 expected and revenue of $5.84 billion versus $5.72 billion; revenue grew 9.7% year over year, supported by AI and cloud demand.
• Analyst sentiment remains constructive, with a consensus “Moderate Buy” rating and average price target of $13.41, though supply-related costs, margin pressure and unchanged guidance remain concerns.

Nokia Corporation (NYSE:NOK - Free Report) - Analysts at Northland Securities raised their FY2026 earnings estimates for Nokia in a report released on Friday, October 23rd. Northland Securities analyst T. Savageaux now anticipates that the technology company will earn $0.42 per share for the year, up from their prior forecast of $0.40. The consensus estimate for Nokia's current full-year earnings is $0.40 per share. Northland Securities also issued estimates for Nokia's Q4 2026 earnings at $0.17 EPS, Q1 2027 earnings at $0.09 EPS, Q2 2027 earnings at $0.11 EPS, Q3 2027 earnings at $0.12 EPS, Q4 2027 earnings at $0.18 EPS and FY2027 earnings at $0.50 EPS.

A number of other equities analysts have also weighed in on the company. B. Riley Financial initiated coverage on Nokia in a research note on Thursday, September 17th. They set a "buy" rating and a $15.00 price objective for the company. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Rosenblatt Securities dropped their target price on Nokia from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price target on Nokia from $21.00 to $20.50 and set an "overweight" rating for the company in a research report on Friday. Finally, Barclays reissued a "sell" rating on shares of Nokia in a report on Monday, June 29th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Nokia currently has a consensus rating of "Moderate Buy" and an average price target of $13.41.

Nokia Price Performance

Shares of NOK opened at $8.12 on Monday. The business's 50-day moving average is $10.10 and its two-hundred day moving average is $11.45. The company has a market capitalization of $46.64 billion, a P/E ratio of 50.77, a P/E/G ratio of 0.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47. Nokia has a fifty-two week low of $5.86 and a fifty-two week high of $17.45.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.72 billion. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share.

Institutional Investors Weigh In On Nokia

Large investors have recently bought and sold shares of the company. Syon Capital LLC raised its holdings in Nokia by 12.7% in the second quarter. Syon Capital LLC now owns 11,730 shares of the technology company's stock valued at $156,000 after acquiring an additional 1,321 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock worth $97,000 after purchasing an additional 1,483 shares in the last quarter. Assetmark Inc. boosted its position in shares of Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock worth $118,000 after acquiring an additional 1,591 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in Nokia by 12.0% in the third quarter. JGP Wealth Management LLC now owns 15,816 shares of the technology company's stock valued at $160,000 after purchasing an additional 1,698 shares in the last quarter. Finally, Burford Brothers Inc. grew its position in shares of Nokia by 9.2% in the 2nd quarter. Burford Brothers Inc. now owns 21,950 shares of the technology company's stock valued at $291,000 after buying an additional 1,850 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI and cloud demand accelerated: Third-quarter revenue increased approximately 10% year over year, while comparable operating profit rose 35%. AI and cloud customer sales surged 123%, with IP Networks revenue up 43% and Optical Networks revenue up 18%. Nokia's Q3 Earnings Beat Estimates on AI & Cloud Strength
• Positive Sentiment: Results exceeded expectations: Nokia reported adjusted earnings of $0.10 per share versus the $0.08 consensus estimate, and revenue of $5.84 billion versus the $5.72 billion forecast. Management also pointed to strong order intake from AI and cloud customers and continued growth potential into 2027. Nokia third-quarter profit beats expectations
• Positive Sentiment: New strategic opportunities: Nokia and ICEYE signed a letter of intent with Ukraine’s Ministry of Defence to explore sovereign satellite communications capabilities, potentially expanding Nokia’s role in defense and connectivity infrastructure. Ukraine partners with Nokia and ICEYE for Starlink alternative
• Neutral Sentiment: Analysts remain constructive but lowered targets: Rosenblatt reduced its price target from $15 to $14 while retaining a Buy rating, and JPMorgan lowered its target from $21 to $20.50 while maintaining an Overweight rating. The cuts suggest analysts still see substantial upside but are adjusting expectations after the selloff. Rosenblatt cuts Nokia price target to $14 but keeps Buy
• Negative Sentiment: Costs and cash flow are the main overhangs: Nokia warned that supply constraints represent a structural cost increase rather than a temporary shortage. Capacity expansion, margin pressure and higher cash requirements are tempering enthusiasm over AI-driven growth.
• Negative Sentiment: Guidance was not raised: Fourth-quarter revenue guidance of $7.1 billion to $7.4 billion broadly brackets the $7.3 billion consensus estimate, while the company maintained its broader outlook. Investors appear to have expected stronger upgrades following the earnings beat. Nokia Q3 Earnings Call Highlights AI Growth and 2027 Outlook
• Negative Sentiment: Market conditions amplified the decline: NOK fell sharply alongside the wider AI and technology sector, causing investors to discount the earnings beat and focus on valuation, profitability and execution risks.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company's business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.

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