In the last trading session, 15.6 million Nokia Oyj (NYSE:NOK) shares changed hands as the company’s beta touched 0.96. With the company’s per share price at $3.95 changed hands at $0.02 or 0.51% during last session, the market valuation stood at $22.75B. NOK’s last price was a discount, traded about -29.37% off its 52-week high of $5.11. The share price had its 52-week low at $3.75, which suggests the last value was 5.06% up since then. When we look at Nokia Oyj’s average trading volume, we note the 10-day average is 19.03 million shares, with the 3-month average coming to 16.55 million.
Analysts gave the Nokia Oyj (NOK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 8 recommended NOK as a Hold, 19 felt it is a Buy and 0 rated the stock as Underweight. Nokia Oyj’s EPS for the current quarter is expected to be $0.09.
Nokia Oyj (NYSE:NOK) trade information
Instantly NOK was in green as seen at the end of in last trading. With action -2.95%, the performance over the past five days has been red. The jump to weekly highs of 4.06 on Monday, 09/18/23 added 0.51% to the stock’s daily price. The company’s shares are showing year-to-date downside of -14.87%, with the 5-day performance at -2.95% in the red. However, in the 30-day time frame, Nokia Oyj (NYSE:NOK) is 4.77% up. Looking at the short shares, we see there were 15.6 million shares sold at short interest cover period of 1.13 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.58, meaning bulls need an upside of 29.21% from its current market value. According to analyst projections, NOK’s forecast low is $4.29 with $7.80 as the target high. To hit the forecast high, the stock’s price needs a -97.47% plunge from its current level, while the stock would need to soar -8.61% for it to hit the projected low.
Nokia Oyj (NOK) estimates and forecasts
Data shows that the Nokia Oyj share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -12.61% over the past 6 months, a -8.70% in annual growth rate that is considerably lower than the industry average of -5.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Nokia Oyj will fall -10.00%, while the growth in revenue is estimated to hit 6.30% for the next quarter. Year-over-year growth is forecast to reach 0.80% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $6.23 billion. 5 analysts are of the opinion that Nokia Oyj’s revenue for the quarter ending Dec 2023 will be $7.26 billion. The company’s revenue for the corresponding quarters a year ago was $6.32 billion and $7.6 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.30%. The estimates for the next quarter sales put growth at -4.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 51.60%. The 2023 estimates are for Nokia Oyj earnings to increase by 158.10%, but the outlook for the next 5-year period is at 6.72% per year.
Nokia Oyj is expected to release its next quarterly earnings report in October. The 2.71% annual yield figure for the share gives it an annual dividend of 0.11. It is important to note, however, that the 2.71% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Nokia Oyj (NYSE:NOK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.01% of Nokia Oyj shares while 6.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 6.78%. There are 6.77% institutions holding the Nokia Oyj stock share, with Artisan Partners Limited Partnership the top institutional holder. As of Jun 29, 2023, the company held 1.63% of the shares, roughly 91.77 million NOK shares worth $362.5 million.
Folketrygdfondet holds the second largest percentage of outstanding shares, with 0.34% or 18.97 million shares worth $74.95 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Artisan International Value Fund and ETF Series Solutions-Defiance Next Gen Connectivity ETF. With 70.93 million shares estimated at $280.17 million under it, the former controlled 1.26% of total outstanding shares. On the other hand, ETF Series Solutions-Defiance Next Gen Connectivity ETF held about 0.09% of the shares, roughly 5.34 million shares worth around $21.11 million.