ESPOO, Finland, August 30, 2026, 12:36 EDT
- Nokia’s U.S. stock slid 3.59% to close at $10.21 on Friday.
- The drop wiped out about $2.2 billion in equity value.
- The stock is valued at 26.2 times projected 2026 earnings.
- The average analyst price target of $12.85 indicates a potential upside of 25.9%.
Nokia Oyj (NYSE: NOK) dropped 3.59% on Friday, erasing around $2.2 billion from its market capitalization. The stock ended the session at $10.21, breaking a run of three consecutive gains MarketWatch.
The development is significant as Nokia’s valuation has already factored in a substantial earnings rebound. The share price on Friday represents 26.2 times the consensus 2026 earnings forecast of $0.39.
That ratio drops to 21.7 times the projected $0.47 for 2027. As a result, investors require profit growth to materialise soon rather than just stay plausible.
Declines followed a slightly softer session in the United States. The Nasdaq Composite slipped 0.52% after Federal Reserve Chair Kevin Warsh reiterated the central bank’s commitment to controlling inflation, which pushed up rate forecasts Reuters.
Nokia trailed the tech-focused index by 3.07 percentage points. Companies valued for future earnings growth often face pressure from rising bond yields.
| Investor measure | Latest | Interpretation |
|---|---|---|
| Friday close | $10.21, -3.59% | Three-day streak halted |
| Volume | 59.86 million | Represents 62% of the 65-day average |
| 2026 EPS estimate | $0.39 | Forward P/E multiple at 26.2 times |
| 2027 EPS estimate | $0.47 | Forward P/E multiple at 21.7 times |
| Average analyst target | $12.85 | 25.9% higher than Friday’s closing price |
Dollar trading was brisk, though volumes lagged Nokia’s usual pace. Approximately 59.86 million shares were traded, equating to around $611 million based on the closing value MarketWatch quote.
Shares marked a 2.51% rise for the week. They have advanced 57.81% so far this year but are still 41.5% under their June peak of $17.45.
Wall Street stays positive, though projections have eased. Analysts now predict third-quarter EPS of $0.07, down from $0.09 three months earlier, marking a 22% cut.
Of 31 analysts monitored by The Wall Street Journal, 19 assign a Buy or Overweight rating to Nokia. Six analysts advise holding the stock, while another six give it an Underweight or Sell recommendation WSJ estimates.
The mean target stands at $12.85, with a median value of $13.25. These numbers suggest an upside of 25.9% and 29.8% respectively.
Risks: An additional increase in yields may put pressure on Nokia’s forward multiple. A further reduction in earnings could diminish prospects for recovery. On the other hand, if network spending accelerates, existing estimates could prove overly conservative.
Nokia will release its third-quarter results on October 22, marking the next main update. Until then, investors will be watching to see if expected earnings can align with a share price that remains 137% higher than a year earlier.
Related articles: NYSE:NOK
