Nokia Oyj (NYSE:NOK) Shares Gap Down After Earnings Miss

Nokia Oyj (NYSE:NOK) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.31, but opened at $4.95. Nokia Oyj shares last traded at $4.77, with a volume of 19,887,171 shares.

The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.47 billion.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOK shares. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research report on Thursday, January 16th. Craig Hallum boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Institutional Trading of Nokia Oyj

A number of hedge funds have recently made changes to their positions in NOK. Wealthquest Corp bought a new stake in Nokia Oyj in the 1st quarter valued at $27,000. Farther Finance Advisors LLC raised its position in shares of Nokia Oyj by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after purchasing an additional 2,651 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of Nokia Oyj during the 4th quarter worth about $45,000. D.A. Davidson & CO. bought a new stake in shares of Nokia Oyj during the 4th quarter worth about $46,000. Finally, Wedmont Private Capital acquired a new position in Nokia Oyj in the 4th quarter valued at about $47,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

The stock has a market capitalization of $27.21 billion, a P/E ratio of 19.96, a PEG ratio of 6.43 and a beta of 0.97. The company’s fifty day simple moving average is $5.09 and its two-hundred day simple moving average is $4.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.