Nokia Oyj (NYSE:NOK) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Nokia Oyj (NYSE:NOK) posted its earnings results on Thursday. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05, Zacks reports. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%.

Nokia Oyj Stock Up 6.9 %

NOK stock traded up $0.31 during trading on Thursday, hitting $4.75. 38,421,521 shares of the company’s stock traded hands, compared to its average volume of 17,836,439. The firm has a market capitalization of $25.87 billion, a P/E ratio of 59.31, a PEG ratio of 5.72 and a beta of 1.06. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $4.42 and a two-hundred day simple moving average of $4.32.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOK shares. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.86.

About Nokia Oyj

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.