Q2 2024 Earnings Forecast for Nokia Oyj (NYSE:NOK) Issued By Northland Capmk

Nokia Oyj (NYSE:NOK - Free Report) - Research analysts at Northland Capmk lowered their Q2 2024 earnings per share (EPS) estimates for shares of Nokia Oyj in a note issued to investors on Friday, April 19th. Northland Capmk analyst T. Savageaux now forecasts that the technology company will post earnings per share of $0.02 for the quarter, down from their prior forecast 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.

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

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

Nokia Oyj Stock Performance

Shares of NOK traded up $0.18 during mid-day trading on Monday, reaching $3.70. 21,684,162 shares of the company's stock traded hands, compared to its average volume of 15,409,089. The stock has a market capitalization of $20.84 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. The business's 50-day moving average price is $3.54 and its 200-day moving average price is $3.47. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently made changes to their positions in NOK. Banque Cantonale Vaudoise increased its holdings in shares of Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company's stock valued at $33,000 after acquiring an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Nokia Oyj in the 1st quarter worth $35,000. Paradigm Asset Management Co. LLC bought a new stake in Nokia Oyj during the third quarter valued at about $37,000. Capital Management Associates Inc bought a new stake in Nokia Oyj during the 4th quarter valued at approximately $34,000. Finally, Tieton Capital Management LLC acquired a new position in shares of Nokia Oyj during the fourth quarter valued at about $34,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.0323 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a yield of 3.49%. Nokia Oyj's payout ratio is 56.25%.

About Nokia Oyj

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.