Nokia Oyj (NYSE:NOK) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -2.23% to the previous day’s close as strong demand from buyers drove the stock to $3.94.
Actively observing the price movement in the last trading, the stock closed the session at $4.03, falling within a range of $3.93 and $4.015. The value of beta (5-year monthly) was 0.67 whereas the PE ratio was 4.79 over 12-month period. Referring to stock’s 52-week performance, its high was $5.28, and the low was $3.95. On the whole, NOK has fluctuated by -3.90% over the past month.
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The company’s Forward Dividend Ratio is 0.10, with its dividend yield at 2.41%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.08, which is expected to increase to $0.12 for fiscal year $0.43 and then to about $0.49 by fiscal year 2024. Data indicates that the EPS growth is expected to be -6.50% in 2024, while the next year’s EPS growth is forecast to be 14.00%.
Analysts have estimated the company’s revenue for the quarter at $6.55 billion, with a low estimate of $6.49 billion and a high estimate of $6.67 billion. According to the average forecast, sales growth in current quarter could jump up 4.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $28.06 billion, representing an increase of 7.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NOK’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
31 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 9 analyst(s), 20 recommend it as a Buy and 2 called the NOK stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0.71, with the price of NOK currently trading nearly -3.28% and -11.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.98, while the 7-day volatility ratio is showing 1.50% which for the 30-day chart, stands at 1.49%. Furthermore, Nokia Oyj (NOK)’s beta value is 0.97, and its average true range (ATR) is 0.08.
A comparison of Nokia Oyj (NOK) with its peers suggests the former has fared considerably weaker in the market. NOK showed an intraday change of -2.23% in last session, and over the past year, it shrunk by -20.08%%. In comparison, BlackBerry Limited (BB) has moved lower at -0.95% on the day and was down -12.10% over the past 12 months. On the other hand, the price of Apple Inc. (AAPL) has risen 0.16% on the day. The stock, however, is off 20.08% from where it was a year ago. Additionally, there is a loss of -0.65% for Motorola Solutions Inc. (MSI) in last trading while the stock has seen an overall depriciation of 33.27%% over the past year. The PE ratio stands at 4.79 for Nokia Oyj, and 29.19 for Apple Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Nokia Oyj (NYSE:NOK) indicates that the trading volumes over the past 10 days have averaged 14.44 million and over the past 3 months, they’ve averaged 17.11 million. According to company’s latest data on outstanding shares, there are 5.57 billion shares outstanding.
Nokia Oyj’s shares belong to company insiders and institutional investors own 7.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.62 million shares as on Apr 27, 2023, resulting in a short ratio of 0.66. According to the data, the short interest in Nokia Oyj (NOK) stood at 0.23% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 13.67 million. The stock has fallen by -15.09% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NOK stock heading into the next quarter.