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What the Numbers Say About Nokia Corporation (NOK)

Published on

October 20, 2021

Nokia Corporation is a Finnish company specializing in telecommunications. It was founded in 1865 and headquartered in Espoo, Finland.

Nokia has been struggling to stay relevant in the smartphone market with Apple and Samsung dominating the market over the past decade.

Nokia's financials show that it is still making money on patent royalties, but it isn't enough to cover for its struggling handset business. Nokia had a net income of $2.5 billion on revenue of $8.8 billion in 2016, down from $3.1 billion on revenue of $14 billion in 2013
Nokia faces tough competition with Apple and Samsung dominating the market over the past decade. Nokia is expected to announce their next flagship smartphone, which will be running on Android and might even come with a 5G network connection.

Nokia Corporation (NYSE:NOK) gained 0.52 percent to close Friday at $5.80, up $0.03 on the day. The company's common stock has a 5-day average trading volume of 19,104,939 shares. It has risen by $5.88 in the last week. In the last 20 days, an average of 21,615,740 shares of the company have been traded, with a 50-day average volume of 19,539,893.

The 1-month performance of NOK is -1.86 percent or -$0.09 from its low of $5.27 on 09/20/21. The stock has reached a 52-week low of $3.21 and a high of $9.79, with the rally to the 52-week high occurring on 01/27/21. NOK has gained 48.34 percent, or $1.89, so far this year. However, the current price is -40.76 percent lower than the 52-week high.

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NOK Chart Via Yahoo Finance

Metrics of Valuation

The trailing price-to-earnings (P/E) ratio for Nokia Corporation (NOK) is 23.30 for the broader industry and 36.88 for the sector. In the last five years, the company's PE ratio has been between 68.40 and 19.33. The beta for NOK stock is 0.77. Moving on to other valuation measures, the trailing price-to-sales (P/S) ratio is 1.28, the price-to-book (PB) ratio is 1.99 in the most recent quarter, and the price-to-cash-flow (P/CF) ratio is 13.87.

Nokia Corporation's quick ratio for the period ending June 29 was 1.40, with the current ratio for the same time at 1.60, indicating that NOK stock can meet its debt obligations. Furthermore, the company's long term debt to equity ratio for the quarter ending June 29 was 0.37, while the total debt to equity ratio was 0.43. In terms of profitability, the trailing 12-month gross margin is 38.30 percent. The trailing 12-month EBITDA margin is 14.94 percent, while the operating margin for the quarter ending June 29 was 7.70 percent. The company's reported gross profit was $9.36 billion on revenue of $24.96 billion.

Earnings Surge

Nokia Corporation's cash and short-term investments totaled $296.8 million for the fiscal quarter ending June 29 this year, compared to total debt of $6.09 billion. Net income and sales increased when compared to the prior quarter's results. Analysts predicted NOK to report earnings of $0.05 per share in the most recent quarter, but it instead reported $0.11, signifying a 120.00 percent surprise. For the quarter, EBITDA was more than $913.12 million. According to the NOK stock balance statement for the quarter ending June 29, total liabilities totaled 26.9 billion, with total debt totaling $6.09 billion.

Technical Illustration

Let's take a quick look at the price momentum of Nokia Corporation (NOK) using technical analysis. The 9-day relative strength index was 66.42 percent as of the close on October 8, indicating that the stock is moving Neutral, with historical volatility in this time frame at 28.21 percent.

The 5-day moving average for the stock is $5.67, representing a +6.23 percent or $0.34 move from its current price. NOK is now trading -0.51% above its 20-day SMA and +16.47% above its 100-day SMA. However, the stock's current price level is -4.13 percent and +49.48 percent away from the SMA50 and SMA200, respectively.

The stochastic percent K and percent D were 90.55 percent and 87.69 percent, respectively, and the average true range (ATR) was 0.13. The RSI (14) is at 58.00 percent, the 14-day stochastic is at 84.62 percent, and the ATR for the time is 0.13. On the 14-day chart, the stock's 9-day MACD Oscillator is pointing at 0.17 and 0.18.

Analyst Evaluations

Cowen raised Nokia Corporation (NYSE: NOK) to an Outperform rating in its most recent analyst report. They earlier rated the stock as Market Perform. Analysts that have provided ratings for NOK stock have an average rating of Overweight. Currently, 0 brokerage advisors recommend that investors "sell," while 9 recommend that they "hold." The stock has been rated as underweight by 0 analysts. Three analysts have rated the company as overweight, while 18 have given it a "buy" recommendation.

What is the price target for NOK during the next 12 months?
Analysts have set a consensus price objective ranging from $5.75 to $8.12, with a median price goal of $7.05. According to these forecasts, the average price goal for Nokia Corporation (NOK) shares is $7.00.

Lydian
Last Updated : October 20, 2021

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