Nokia Oyj (NOK) Releases FY19 Earnings Guidance

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.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, April 25th. The technology company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Nokia Oyj had a positive return on equity of 8.03% and a negative net margin of 1.58%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Nokia Oyj will post 0.31 EPS for the current fiscal year.

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.

TRADEMARK VIOLATION NOTICE: “Nokia Oyj (NOK) Releases FY19 Earnings Guidance” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/04/26/nokia-oyj-nok-releases-fy19-earnings-guidance.html.

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).

Recommended Story: Calculating net profit and net profit margin ratio

Receive News & Ratings for Nokia Oyj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Oyj and related companies with MarketBeat.com's FREE daily email newsletter.