Nokia Corporation (NOK) Expected to Announce Quarterly Sales of $6.26 Billion

Analysts expect Nokia Corporation (NYSE:NOK) to report $6.26 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Nokia Corporation’s earnings, with the lowest sales estimate coming in at $6.11 billion and the highest estimate coming in at $6.41 billion. Nokia Corporation reported sales of $6.57 billion during the same quarter last year, which indicates a negative year over year growth rate of 4.7%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Nokia Corporation will report full-year sales of $6.26 billion for the current fiscal year, with estimates ranging from $24.89 billion to $26.03 billion. For the next financial year, analysts anticipate that the firm will report sales of $25.93 billion per share, with estimates ranging from $25.13 billion to $26.73 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Nokia Corporation.

Nokia Corporation (NYSE:NOK) last issued its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Nokia Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nokia Corporation in a report on Sunday. Cowen and Company reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Nokia Corporation in a report on Friday. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Nokia Corporation in a report on Thursday, July 27th. Finally, Vetr cut shares of Nokia Corporation from a “strong-buy” rating to a “buy” rating and set a $7.13 price objective on the stock. in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.24.

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Shares of Nokia Corporation (NOK) traded up 2.35% during mid-day trading on Friday, hitting $6.54. 19,082,333 shares of the stock traded hands. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65. The stock has a market cap of $10.08 billion, a P/E ratio of 34.42 and a beta of 1.27. The firm’s 50 day moving average price is $6.30 and its 200-day moving average price is $5.68.

Several institutional investors have recently bought and sold shares of the stock. SOL Capital Management CO boosted its stake in shares of Nokia Corporation by 41.5% in the first quarter. SOL Capital Management CO now owns 99,137 shares of the technology company’s stock valued at $537,000 after buying an additional 29,076 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Nokia Corporation by 203.7% in the second quarter. Capstone Asset Management Co. now owns 1,492,156 shares of the technology company’s stock valued at $9,192,000 after buying an additional 1,000,888 shares during the period. Usca Ria LLC boosted its stake in shares of Nokia Corporation by 15.1% in the first quarter. Usca Ria LLC now owns 31,475 shares of the technology company’s stock valued at $171,000 after buying an additional 4,125 shares during the period. FMR LLC raised its position in Nokia Corporation by 14.6% in the fourth quarter. FMR LLC now owns 2,099,893 shares of the technology company’s stock valued at $10,100,000 after buying an additional 266,800 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its position in Nokia Corporation by 22.2% in the first quarter. Horrell Capital Management Inc. now owns 275,000 shares of the technology company’s stock valued at $1,491,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 5.91% of the company’s stock.

About Nokia Corporation

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

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