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Nokia Corp ADR (NYSE: NOK)’s Stock Performance and Outlook

In the last trading session, 14.25 million Nokia Corp ADR (NYSE:NOK) shares changed hands as the company’s beta touched 1.10. With the company’s per share price at $3.62 changed hands at $0.03 or 0.84% during last session, the market valuation stood at $19.95B. NOK’s last price was a discount, traded about -37.29% off its 52-week high of $4.97. The share price had its 52-week low at $2.94, which suggests the last value was 18.78% up since then. When we look at Nokia Corp ADR’s average trading volume, we note the 10-day average is 14.59 million shares, with the 3-month average coming to 0.91.

Nokia Corp ADR (NYSE:NOK) trade information

Instantly NOK was in green as seen at the end of in last trading. With action 1.69%, the performance over the past five days has been green. The jump to weekly highs of 3.68 added 0.84% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.85%, with the 5-day performance at 1.69% in the green. However, in the 30-day time frame, Nokia Corp ADR (NYSE:NOK) is 3.43% up. Looking at the short shares, we see there were 21.09 million shares sold at short interest cover period of 1.13 days.

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Nokia Corp ADR (NOK) estimates and forecasts

Data shows that the Nokia Corp ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -6.94% over the past 6 months, a 19.35% in annual growth rate that is considerably higher than the industry average of 9.80%. Year-over-year growth is forecast to reach -3.60% down 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 $5.09 billion. 5 analysts are of the opinion that Nokia Corp ADR’s revenue for the quarter ending Jun 2024 will be $5.42 billion. The company’s revenue for the corresponding quarters a year ago was $6.29 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -19.00%.

The 2024 estimates are for Nokia Corp ADR earnings to increase by 18.97%, but the outlook for the next 5-year period is at 6.72% per year.

NOK Dividends

Nokia Corp ADR is expected to release its next quarterly earnings report in March. The 3.59% annual yield figure for the share gives it an annual dividend of 0.13. It is important to note, however, that the 3.59% 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 Corp ADR (NYSE:NOK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of Nokia Corp ADR shares while 6.09% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 6.09%. There are 6.09% institutions holding the Nokia Corp ADR 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 $381.78 million.

Folketrygdfondet holds the second largest percentage of outstanding shares, with 0.34% or 18.97 million shares worth $78.93 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 $295.06 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 $22.23 million.

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