Zacks: Brokerages expect Nokia Co. (NYSE: NOK) to report quarterly sales of $7.40 billion

Wall Street brokers expect Nokia Co. (NYSE: NOK) to post $7.40 billion in sales for the current quarter, reports Zacks Investment Research. Two analysts provided Nokia earnings estimates, with the highest sales estimate at $7.53 billion and the lowest estimate at $7.27 billion. Nokia reported sales of $7.83 billion in the same quarter last year, indicating a negative growth rate of 5.5% year-over-year. The company is expected to announce its next quarterly results before the market opens on Thursday, February 3.

On average, analysts expect Nokia to post annual revenue of $26.05 billion in the current fiscal year. For the next fiscal year, analysts expect the company to record sales of $26.55 billion, with estimates ranging from $26.23 billion to $26.91 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who provide coverage for Nokia.

NOK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on Nokia shares in a Friday, October 29 research report. Barclays reaffirmed an “equal weight” rating on Nokia shares in a Monday, November 1 research report. Finally, Morgan Stanley launched a hedge on Nokia shares in a research report on Monday, December 20. They set an “overweight” rating and a price target of $7.50 for the company. Three investment analysts gave the stock a hold rating and twelve gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $7.35.

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Several institutional investors and hedge funds have been buying and selling stocks recently. Wealth Quarterback LLC increased its stake in Nokia by 25.8% during the third quarter. Wealth Quarterback LLC now owns 8,860 shares of the technology company valued at $40,000 after buying 1,816 additional shares in the last quarter. Kestra Advisory Services LLC increased its stake in Nokia by 2.4% during the third quarter. Kestra Advisory Services LLC now owns 77,502 shares of the technology company valued at $422,000 after buying an additional 1,841 shares last quarter. Fisher Asset Management LLC increased its stake in Nokia by 13.7% in the third quarter. Fisher Asset Management LLC now owns 15,253 shares of the technology company valued at $83,000 after buying 1,843 additional shares last quarter. Rockefeller Capital Management LP increased its holdings of Nokia shares by 1.4% in the third quarter. Rockefeller Capital Management LP now owns 135,256 shares of the technology company worth $737,000 after buying 1,849 additional shares last quarter. Finally, Clean Yield Group increased its stake in Nokia shares by 0.4% in the fourth quarter. Clean Yield Group now owns 527,740 shares of the technology company worth $3,283,000 after buying an additional 1,860 shares last quarter. 8.22% of the shares are currently held by institutional investors.

NOK shares opened at $5.97 on Thursday. The stock has a market capitalization of $33.64 billion, a P/E ratio of -17.06, a PEG ratio of 1.37 and a beta of 0.79. The company has a quick ratio of 1.40, a current ratio of 1.60 and a leverage ratio of 0.28. The company has a fifty-day simple moving average of $5.93 and a two-hundred-day simple moving average of $5.85. Nokia has a 12-month low of $3.75 and a 12-month high of $6.40.

About Nokia

Nokia Oyj engages in the provision of network infrastructure, technology and software services. It operates through the following segments: Networks, Nokia Software, Nokia Technologies and Group Common and Other. The Networks segment includes mobile networks, services, fixed networks and optical networks.

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