Nokia Oyj (NYSE:NOK) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of EUR0.25-0.29 for the period, compared to the Thomson Reuters consensus estimate of $0.28. Nokia Oyj also updated its FY 2019 guidance to $0.28-0.33 EPS.
Several analysts have weighed in on the company. Zacks Investment Research upgraded Nokia Oyj from a sell rating to a hold rating in a research note on Thursday, April 4th. TheStreet downgraded Nokia Oyj from a b- rating to a c+ rating in a research note on Wednesday, April 3rd. Canaccord Genuity restated a buy rating and issued a $7.00 target price on shares of Nokia Oyj in a research note on Friday. Goldman Sachs Group downgraded Nokia Oyj from a neutral rating to a sell rating and set a $5.72 target price on the stock. in a research note on Monday, April 15th. Finally, Nordea Equity Research downgraded Nokia Oyj from a buy rating to a hold rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $6.83.
Shares of NOK traded up $0.06 during mid-day trading on Friday, reaching $5.36. The company had a trading volume of 27,039,281 shares, compared to its average volume of 26,231,047. Nokia Oyj has a 52-week low of $5.07 and a 52-week high of $6.65. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 19.85 and a beta of 0.31.
A hedge fund recently raised its stake in Nokia Oyj stock. Geode Capital Management LLC increased its holdings in Nokia Oyj (NYSE:NOK) by 40.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,517 shares of the technology company’s stock after purchasing an additional 6,167 shares during the quarter. Geode Capital Management LLC’s holdings in Nokia Oyj were worth $125,000 at the end of the most recent reporting period. 6.82% of the stock is owned by hedge funds and other institutional investors.
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About Nokia Oyj
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).
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