Home / Tech & Systems / Nokia Corporation (NYSE:NOK) Eliminating 1,032 Employees in Finland As Part Of A Cost-Cutting Program

Nokia Corporation (NYSE:NOK) Eliminating 1,032 Employees in Finland As Part Of A Cost-Cutting Program

Nokia Corporation (NYSE:NOK) [Trend Analysis] regains street interests, as shares slightly up 0.77% on Monday and it traded at $5.21. The 52-week high of the share price is -31.72% and 52-week low of the share price is 2.56%. Nokia (NOKIA) released it is eliminating 1,032 employees in Finland as part of a cost-cutting program following its takeover of Alcatel-Lucent, as per reported by telecom network equipment maker on Friday.

Finland’s biggest company has cut thousands of jobs in its home country over the past decade as its once-dominant phone business was eclipsed by the rise of smartphone rivals. Nokia ongoing latest cost cutting program in April and is targeting 900M euros ($1B) of operating cost synergies from the Alcatel deal by 2018. The company has declined to give an overall figure for global job cuts, but has said it in talks with employee representatives in about 30 countries. Nokia employs about 104,000 people worldwide, with about 6,850 in Finland, 4,800 in Germany and 4,200 in France.

Moving toward technical analysis, the current ratio, or the liquidity ratio of a company was calculated 1.90 as compared to its debt to equity ratio stands at 0.22. This is an important indicator as a higher ratio typically suggests that investors are investing more confidently as compared to companies in the same industry has lower ratios. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at -53.90%. Investors looking further ahead will note that the Price to next year’s EPS is 47.96%.

To narrow down focus on firm’s analytic rating, NOK receives a wide range of reviews through technical indicators; experts eagerly produce EPS tends for quartile and annual, for current quarter trends were $0.04 and $0.06 for next quarter. On annual bases, it has $0.25 for FY 2016 Estimate Trends and $0.38 for FY 2017 Estimate Trends.

To neat down this understanding, 9 analysts rate it as ‘Holding’ security, at the same time as 24 suggests for ‘Buy’ as compare to 19 analyst suggested in 3 month ago. To lodge it average analyst gave price target to 7.12, whereas current price stands at 5.21.

As for as concerns shares volumes, in share capital Nokia Corporation (NYSE:NOK) has 5788.06 million outstanding shares among them 5773.99 million shares have been floated in market exchange. The firm’s institutional ownership remained 4.20%.

The stock showed weekly upbeat performance of 0.58%, which maintained for the month at -13.88%. Likewise the positive performance for the quarter recorded as -15.83% and for the year was -29.02%, while the YTD performance remained at -25.78%.


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