Nokia Oyj (NYSE:NOK – Free Report) – Research analysts at Zacks Research lifted their Q2 2023 earnings per share (EPS) estimates for Nokia Oyj in a report released on Wednesday, July 12th. Zacks Research analyst S. Bose now forecasts that the technology company will earn $0.09 per share for the quarter, up from their previous estimate of $0.08. The consensus estimate for Nokia Oyj’s current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Nokia Oyj’s Q4 2024 earnings at $0.15 EPS and Q2 2025 earnings at $0.13 EPS.
NOK has been the topic of several other research reports. Raymond James dropped their price objective on Nokia Oyj from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. StockNews.com lowered Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Finally, TheStreet lowered Nokia Oyj from a “b-” rating to a “c+” rating in a research note on Monday, June 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.73.
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last released its earnings results on Wednesday, April 19th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nokia Oyj had a return on equity of 11.57% and a net margin of 16.78%. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue was up 9.6% on a year-over-year basis.
Hedge Funds Weigh In On Nokia Oyj
A number of hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership increased its stake in Nokia Oyj by 6.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 87,523,124 shares of the technology company’s stock worth $429,739,000 after acquiring an additional 5,296,106 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Nokia Oyj by 9.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock worth $223,416,000 after acquiring an additional 3,569,621 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Nokia Oyj by 35.1% in the 1st quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after purchasing an additional 7,419,900 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Nokia Oyj by 55.0% in the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after purchasing an additional 9,842,934 shares in the last quarter. Finally, Folketrygdfondet boosted its holdings in shares of Nokia Oyj by 0.8% in the 1st quarter. Folketrygdfondet now owns 16,773,642 shares of the technology company’s stock valued at $82,359,000 after purchasing an additional 135,005 shares in the last quarter. Institutional investors own 6.51% of the company’s stock.
Nokia Oyj Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, April 25th were paid a dividend of $0.0329 per share. The ex-dividend date of this dividend was Monday, April 24th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s dividend payout ratio (DPR) is 11.39%.
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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.
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