Heavy Trading On Nokia Oyj (NOK) Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Nokia Oyj ( NOK) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Nokia Oyj as such a stock due to the following factors:

  • NOK has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $106.9 million.
  • NOK traded 1.6 million shares today in the pre-market hours as of 7:47 AM, representing 11.7% of its average daily volume.

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More details on NOK:

Nokia Corporation is engaged in the network infrastructure, location-based technologies, and advanced technologies businesses worldwide. The company operates through four segments: Mobile Broadband, Global Services, HERE, and Technologies. The stock currently has a dividend yield of 1.3%. NOK has a PE ratio of 116.7. Currently there are 7 analysts that rate Nokia Oyj a buy, 1 analyst rates it a sell, and 6 rate it a hold.

The average volume for Nokia Oyj has been 19.2 million shares per day over the past 30 days. Nokia Oyj has a market cap of $30.1 billion and is part of the technology sector and telecommunications industry. Shares are down 0.7% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Nokia Oyj as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year.

Highlights from the ratings report include:
  • NOKIA CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, NOKIA CORP turned its bottom line around by earning $0.06 versus -$1.11 in the prior year. This year, the market expects an improvement in earnings ($0.36 versus $0.06).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Communications Equipment industry. The net income increased by 569.1% when compared to the same quarter one year prior, rising from -$149.37 million to $700.76 million.
  • 46.97% is the gross profit margin for NOKIA CORP which we consider to be strong. Regardless of NOK's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 19.23% trails the industry average.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. When compared to other companies in the Communications Equipment industry and the overall market, NOKIA CORP's return on equity is below that of both the industry average and the S&P 500.
  • In its most recent trading session, NOK has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry, implying reduced upside potential.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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