Nokia Oyj (NYSE:NOK – Get Rating) – Investment analysts at Jefferies Financial Group lowered their FY2023 EPS estimates for Nokia Oyj in a note issued to investors on Monday, January 30th. Jefferies Financial Group analyst J. Menon now expects that the technology company will earn $0.50 per share for the year, down from their prior forecast of $0.52. The consensus estimate for Nokia Oyj's current full-year earnings is $0.46 per share. Jefferies Financial Group also issued estimates for Nokia Oyj's FY2024 earnings at $0.58 EPS and FY2025 earnings at $0.67 EPS.
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Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nokia Oyj from €6.00 ($6.52) to €5.50 ($5.98) and set a "buy" rating for the company in a report on Wednesday, November 9th. StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Tuesday, November 1st. Societe Generale lowered their target price on shares of Nokia Oyj from €5.80 ($6.30) to €5.40 ($5.87) and set a "buy" rating for the company in a research note on Tuesday, October 25th. Morgan Stanley started coverage on shares of Nokia Oyj in a research note on Tuesday, November 8th. They set an "equal weight" rating for the company. Finally, Raymond James increased their target price on shares of Nokia Oyj from $6.50 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, January 27th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj presently has an average rating of "Moderate Buy" and an average target price of $5.88.
Nokia Oyj Trading Up 2.1 %
Shares of NOK opened at $4.86 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. Nokia Oyj has a 12-month low of $4.08 and a 12-month high of $6.00. The firm has a 50-day moving average price of $4.78 and a 200 day moving average price of $4.75. The firm has a market capitalization of $27.37 billion, a P/E ratio of 6.23, a P/E/G ratio of 5.82 and a beta of 0.90.
Nokia Oyj (NYSE:NOK – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Nokia Oyj had a net margin of 16.73% and a return on equity of 12.31%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Nokia Oyj's quarterly revenue was up 16.1% on a year-over-year basis.
Nokia Oyj Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be given a dividend of $0.0218 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, January 30th. This is a boost from Nokia Oyj's previous quarterly dividend of $0.01. Nokia Oyj's dividend payout ratio is currently 7.69%.
Institutional Trading of Nokia Oyj
Hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its holdings in Nokia Oyj by 4.8% in the third quarter. Stratos Wealth Partners LTD. now owns 121,224 shares of the technology company's stock valued at $518,000 after acquiring an additional 5,565 shares in the last quarter. Fulton Bank N.A. acquired a new stake in Nokia Oyj in the third quarter valued at approximately $88,000. Managed Asset Portfolios LLC raised its holdings in Nokia Oyj by 2.5% in the second quarter. Managed Asset Portfolios LLC now owns 3,833,598 shares of the technology company's stock valued at $17,673,000 after acquiring an additional 94,212 shares in the last quarter. Castleview Partners LLC raised its holdings in Nokia Oyj by 361.0% in the second quarter. Castleview Partners LLC now owns 5,762 shares of the technology company's stock valued at $1,250,000 after acquiring an additional 4,512 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in Nokia Oyj by 2.8% in the second quarter. Stonegate Investment Group LLC now owns 5,964,589 shares of the technology company's stock valued at $27,497,000 after acquiring an additional 160,747 shares in the last quarter. Institutional investors and hedge funds own 7.57% of the company's stock.
Nokia Oyj Company Profile
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Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The Mobile Networks segment offers technologies for Radio Access Networks (RAN) as well as Microwave Radio Links (MWR) for transport networks.
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