Brokers Offer Predictions for Nokia Oyj’s Q2 2024 Earnings (NYSE:NOK)

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

A number of other analysts have also recently weighed in on NOK. BNP Paribas initiated coverage on shares of Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. JPMorgan Chase & Co. dropped their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Stock Up 2.0 %

NOK stock opened at $3.52 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.36. The firm has a fifty day moving average price of $3.53 and a two-hundred day moving average price of $3.47. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.98 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 3.90% and a return on equity of 8.40%. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the firm earned $0.16 EPS.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise boosted its position 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 purchasing an additional 3,000 shares in the last quarter. Capital Management Associates Inc bought a new position in shares of Nokia Oyj during the 4th quarter valued at about $34,000. Tieton Capital Management LLC bought a new position in shares of Nokia Oyj during the 4th quarter valued at about $34,000. Advisors Asset Management Inc. bought a new position in shares of Nokia Oyj during the 4th quarter valued at about $34,000. Finally, Peapack Gladstone Financial Corp purchased a new stake in Nokia Oyj during the fourth quarter valued at about $35,000. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be given a $0.0323 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a yield of 3.67%. Nokia Oyj’s dividend payout ratio is presently 68.75%.

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.