Nokia Corporation (NYSE:NOK) has a beta value of 0.61 and has seen 17,456,929 shares traded in the recent trading session. The company, currently valued at $23.96 Billion, closed the recent trade at $4.27 per share which meant it gained $0.07 on the day or 1.67% during that session. The NOK stock price is -22.72% off its 52-week high price of $5.24 and 45.2% above the 52-week low of $2.34. If we look at the company’s 10-day average daily trading volume, we find that it stood at 23.44 Million shares traded. The 3-month trading volume is 28.64 Million shares.
The consensus among analysts is that Nokia Corporation (NOK) is an Overweight stock at the moment, with a recommendation rating of 2.6. 1 analysts rate the stock as a Sell, while 3 rate it as Overweight. 11 out of 32 have rated it as a Hold, with 17 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.07.
Nokia Corporation (NYSE:NOK) trade information
Sporting 1.67% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Oct 21 when the NOK stock price touched $4.34-0 or saw a rise of 0.74%. Year-to-date, Nokia Corporation shares have moved 16.12%, while the 5-day performance has seen it change 5.59%. Over the past 30 days, the shares of Nokia Corporation (NYSE:NOK) have changed 8.79%. Short interest in the company has seen 40.93 Million shares shorted with days to cover at 1.43.
Wall Street analysts have a consensus price target for the stock at $5.15, which means that the shares’ value could jump 20.61% from current levels. The projected low price target is $3.67 while the price target rests at a high of $6.5. In that case, then, we find that the current price level is +52.22% off the targeted high while a plunge would see the stock lose -14.05% from current levels.
Nokia Corporation (NOK) estimates and forecasts
Figures show that Nokia Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +24.26% over the past 6 months, with this year growth rate of 12%, compared to 5% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 16.7% and -17.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.2%.
7 analysts offering their estimates for the company have set an average revenue estimate of $6.29 Billion for the current quarter. 7 have an estimated revenue figure of $7.75 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $6.32 Billion and $7.64 Billion respectively for this quarter and the next, and analysts expect sales will grow by -0.6% for the current quarter and 1.4% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -67.2% over the past 5 years. Earnings growth for 2020 is a modest +102.5% while over the next 5 years, the company’s earnings are expected to increase by 14.84%.
Nokia Corporation (NYSE:NOK)’s Major holders
Insiders own 0% of the company shares, while shares held by institutions stand at 4.78% with a share float percentage of 4.78%. Investors are also buoyed by the number of investors in a company, with Nokia Corporation having a total of 453 institutions that hold shares in the company. The top two institutional holders are Primecap Management Company with over 27.78 Million shares worth more than $122.22 Million. As of June 29, 2020, Primecap Management Company held 4.23% of shares outstanding.
The other major institutional holder is Ariel Investments, LLC, with the holding of over 15.72 Million shares as of June 29, 2020. The firm’s total holdings are worth over $69.17 Million and represent 2.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are College Retirement Equities Fund-Stock Account and Vanguard Fenway Fds-Primecap Core Fund. As of June 29, 2020, the former fund manager holds about 1.33% shares in the company for having 8710633 shares of worth $38.33 Million while later fund manager owns 4.38 Million shares of worth $19.27 Million as of June 29, 2020, which makes it owner of about 0.67% of company’s outstanding stock.