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Nokia Oyj (NYSE: NOK) Continues To Thrive In 2023, As Its Stock Is Down -12.82% Year-To-Date

During the recent session, Nokia Oyj (NYSE:NOK)’s traded shares were 3.73 million, with the beta value of the company hitting 0.97. At the last check today, the stock’s price was $4.05, reflecting an intraday gain of 2.15% or $0.09. The 52-week high for the NOK share is $5.28, that puts it down -30.37 from that peak though still a striking 2.96% gain since the share price plummeted to a 52-week low of $3.93. The company’s market capitalization is $22.25B, and the average intraday trading volume over the past 10 days was 14.19 million shares, and the average trade volume was 17.10 million shares over the past three months.

Nokia Oyj (NOK) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. NOK has a Sell rating from 0 analyst(s) out of 31 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 20 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.08.

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Nokia Oyj (NYSE:NOK) trade information

Nokia Oyj (NOK) registered a 2.15% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.15% in intraday trading to $4.05 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -0.12%, and it has moved by -3.23% in 30 days. Based on these gigs, the overall price performance for the year is -17.95%. The short interest in Nokia Oyj (NYSE:NOK) is 12.62 million shares and it means that shorts have 0.66 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.10, which implies an increase of 33.61% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.61 and $8.56 respectively. As a result, NOK is trading at a discount of -111.36% off the target high and -13.83% off the low.

Nokia Oyj (NOK) estimates and forecasts

Statistics show that Nokia Oyj has underperformed its competitors in share price, compared to the industry in which it operates. Nokia Oyj (NOK) shares have gone down -15.55% during the last six months, with a year-to-date growth rate less than the industry average at -4.35% against 1.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -27.30% this quarter and then jump 10.00% in the quarter after that. In the rating firms’ projections, revenue will increase 6.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $6.53 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $6.83 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.25 billion and $6.32 billion respectively. In this case, analysts expect current quarter sales to grow by 4.60% and then jump by 8.10% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 51.60%. While earnings are projected to return 158.10% in 2023, the next five years will return 6.72% per annum.

NOK Dividends

Nokia Oyj is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Nokia Oyj is 0.10, with the dividend yield indicating at 2.40 percent, continuing the trend of increasing dividends in recent years.

Nokia Oyj (NYSE:NOK)’s Major holders

Nokia Oyj insiders own 0.01% of total outstanding shares while institutional holders control 7.44%, with the float percentage being 7.44%. Artisan Partners Limited Partnership is the largest shareholder of the company, while 576 institutions own stock in it. As of Mar 30, 2023, the company held over 87.52 million shares (or 1.55% of all shares), a total value of $354.03 million in shares.

The next largest institutional holding, with 28.59 million shares, is of Renaissance Technologies, LLC’s that is approximately 0.51% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $115.63 million.

Also, the Mutual Funds coming in first place with the largest holdings of Nokia Oyj (NOK) shares are Artisan International Value Fund and ETF Series Solutions-Defiance Next Gen Connectivity ETF. Data provided on Dec 30, 2022 indicates that Artisan International Value Fund owns about 62.17 million shares. This amounts to just over 1.10 percent of the company’s overall shares, with a $251.49 million market value. The same data shows that the other fund manager holds slightly less at 6.44 million, or about 0.11% of the stock, which is worth about $26.06 million.

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