Nokia Oyj (NYSE:NOK) Expected to Earn Q2 2024 Earnings of $0.02 Per Share

Nokia Oyj (NYSE:NOK) – Northland Capmk dropped their Q2 2024 earnings per share (EPS) estimates for Nokia Oyj in a research report issued to clients and investors on Friday, April 19th. Northland Capmk analyst T. Savageaux now expects that the technology company will post earnings per share of $0.02 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.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, BNP Paribas began coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Nokia Oyj presently has an average rating of “Hold” and an average price target of $4.42.

Nokia Oyj Trading Down 0.3 %

Nokia Oyj stock opened at $3.68 on Monday. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 0.98 and a beta of 1.09. The company’s fifty day moving average price is $3.54 and its two-hundred day moving average price is $3.47. Nokia Oyj has a one year low of $2.94 and a one year high of $4.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.64 and a quick ratio of 1.40.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 EPS 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 analyst estimates of $6.66 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. During the same quarter in the prior year, the company posted $0.16 EPS.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds have recently added to or reduced their stakes in NOK. Pzena Investment Management LLC raised its holdings in Nokia Oyj by 13,524.2% during the 3rd quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock worth $160,039,000 after purchasing an additional 42,477,173 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Nokia Oyj by 10.8% during the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock worth $380,290,000 after purchasing an additional 9,908,461 shares during the period. Walleye Capital LLC bought a new position in Nokia Oyj during the third quarter worth about $12,591,000. BNP Paribas Financial Markets increased its stake in shares of Nokia Oyj by 379.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,493,893 shares of the technology company’s stock valued at $5,109,000 after acquiring an additional 1,182,184 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Nokia Oyj by 89.6% in the 4th quarter. Russell Investments Group Ltd. now owns 882,030 shares of the technology company’s stock valued at $3,017,000 after buying an additional 416,791 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.0323 per share. This represents a $0.13 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, April 22nd. Nokia Oyj’s payout ratio is presently 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.