The time has not yet come to remove your chips from the table: Nokia Oyj (NOK)

Nokia Oyj (NYSE: NOK) stock fell -1.33% on Friday to $4.44 against a previous-day closing price of $4.50. With 23.23 million shares changed hands, the volume of the stock remained lighter than its average volume of 26.18 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $4.5000 whereas the lowest price it dropped to was $4.4200. The 52-week range on NOK shows that it touched its highest point at $6.40 and its lowest point at $4.37 during that stretch. It currently has a 1-year price target of $6.92. With its current market cap of 26.75 billion, NOK has annualized dividend of $0.04 while the current yield stands at 0.92%. Beta for the stock currently stands at 0.84.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NOK was down-trending over the past week, with a drop of -8.83%, but this was down by -10.12% over a month. Three-month performance dropped to -4.93% while six-month performance fell -15.91%. The stock lost -20.14% in the past year, while it has lost -28.62% so far this year. A look at the trailing 12-month EPS for NOK yields 0.29 with Next year EPS estimates of 0.48. For the next quarter, that number is 0.10. This implies an EPS growth rate of 163.90% for this year and 6.01% for next year. EPS is expected to grow by 12.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 33.20%.

Float and Shares Shorts:

At present, 5.63 billion NOK shares are outstanding with a float of 5.61 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 17.14 million, which was 0.30% higher than short shares on Jun 14, 2022. In addition to Mr. Pekka Ilmari Lundmark as the firm’s Pres & CEO, Mr. Marco Wiren M.Sc. (Econ.) serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 8.14% of NOK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.29% of NOK, in contrast to 1.05% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in NOK with 1.37% of the stake, Artisan Partners LP holds 77,792,262 shares worth 77,792,262. A second-largest stockholder of NOK, Neuberger Berman Investment Advis, holds 33,375,719 shares, controlling over 0.59% of the firm’s shares. Arrowstreet Capital LP is the third largest shareholder in NOK, holding 23,897,391 shares or 0.42% stake. With a 0.18% stake in NOK, the Neuberger Berman Investment Funds is the largest stakeholder. A total of 9,993,397 shares are owned by the mutual fund manager. The Defiance Next Gen Connectivity ET, which owns about 0.09% of NOK stock, is the second-largest Mutual Fund holder. It holds 5,368,592 shares valued at 27.11 million. Amundi Index Solutions – MSCI Wor holds 0.08% of the stake in NOK, owning 4,561,816 shares worth 23.04 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOK since 27 analysts follow the stock currently. There are 19 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NOK analysts setting a high price target of $8.15 and a low target of $4.89, the average target price over the next 12 months is $6.49. Based on these targets, NOK could surge 83.56% to reach the target high and rise by 10.14% to reach the target low. Reaching the average price target will result in a growth of 46.17% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NOK will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $0.50 being high and $0.31 being low. For NOK, this leads to a yearly average estimate of $0.42. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Nokia Oyj surprised analysts by $0.02 when it reported $0.10 EPS against a consensus estimate of $0.09. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.12 and the low estimate is $0.06. The average estimate for the next quarter is thus $0.09.

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