Nokia Oyj (NYSE:NOK) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Nokia Oyj (NYSE:NOK) issued its earnings results on Thursday. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05, Morningstar.com reports. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.68%. The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis.
NYSE:NOK traded up $0.02 during trading hours on Friday, hitting $5.72. The company had a trading volume of 38,018,051 shares, compared to its average volume of 21,325,676. The firm has a market cap of $32.12 billion, a P/E ratio of 21.19 and a beta of 0.25. The company’s 50-day simple moving average is $5.10. Nokia Oyj has a 52 week low of $4.71 and a 52 week high of $6.65. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.
Large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its holdings in Nokia Oyj by 21.9% in the first quarter. Raymond James Trust N.A. now owns 27,878 shares of the technology company’s stock valued at $159,000 after acquiring an additional 5,000 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Nokia Oyj during the fourth quarter valued at $115,000. Exane Derivatives lifted its position in Nokia Oyj by 44.2% during the first quarter. Exane Derivatives now owns 17,246 shares of the technology company’s stock valued at $99,000 after buying an additional 5,288 shares during the period. Daiwa Securities Group Inc. purchased a new position in Nokia Oyj during the first quarter valued at $520,000. Finally, Sawtooth Solutions LLC purchased a new position in Nokia Oyj during the first quarter valued at $498,000. Institutional investors and hedge funds own 7.68% of the company’s stock.
Nokia Oyj Company Profile
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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