|Bid||20.88 x 0|
|Ask||20.89 x 0|
|Day's Range||20.47 - 20.95|
|52 Week Range||12.25 - 22.24|
|Beta (5Y Monthly)||1.14|
|PE Ratio (TTM)||10.29|
|Earnings Date||Mar 12, 2021|
|Forward Dividend & Yield||1.12 (5.45%)|
|Ex-Dividend Date||Apr 29, 2021|
|1y Target Est||19.62|
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Fortum OyjGlobal Credit Research - 08 Feb 2021Paris, February 08, 2021 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Fortum Oyj and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 3 February 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
(Bloomberg) -- In the five months since he took over as chief executive officer of Wipro Ltd., Thierry Delaporte has yet to visit the Indian outsourcer’s Bangalore headquarters once. Instead, the 53-year-old has been on a virtual tour from his home in Paris, meeting with managers, workers and customers around the globe.He’s trying to turn around the struggling business without letting the Covid-19 pandemic slow him. Delaporte slashed the top ranks of leadership from 25 people to four. He stepped up acquisitions, with more on the way. Mostly, he focused his attention on customers, meeting with 130 over video conference and helping to land new multi-year contracts with clients in the U.S. and Europe.The company’s stock has rallied about 70% since his appointment, most among India’s four largest outsourcing firms during that period. It’s a rare victory for Wipro, but one the veteran of France’s Capgemini SE is determined won’t be its last. He hopes to get Wipro back on track after years of tumult and stagnating financials.“There’s a particular momentum in the industry just now, and I want to drive that urgency to put Wipro back where it belongs,” said Delaporte, speaking from Paris in his first interview since assuming the CEO post. “I know I’m good at one thing - getting things done.”Wipro needs more than enthusiasm. The firm, majority owned by billionaire Azim Premji, has lagged its peers for years. In the fiscal year ended in March, revenues rose 3.9% in constant currency terms, compared with 9.8% at Infosys Ltd. and 7.1% at Tata Consultancy Services Ltd. -- even though both are far larger. HCL Technologies Ltd., which displaced Wipro as the third-largest in the industry two years ago, grew 17%.Delaporte’s predecessor, Abidali Neemuchwala, took over in 2016 with similar ambitions. He departed after a turbulent four years and falling well short of a target to build Wipro into a $15 billion company by 2020. (Its revenue for the year ended in March was $8.1 billion.)“Thierry seems to have the vision and the commitment, but he has an absolutely daunting task,” said Vasupradha Srinivasan, a senior analyst at Forrester Research Inc.Wipro shares were little changed Monday.Delaporte, whose hobby is long-distance running, is realistic that any turnaround will take time. But, he argues, the business is actually simple: Obsess over helping your clients and the rest will follow.“We know what we need to do to make it work,” he said, from an office whose walls are adorned with paintings. “In my Year One, we’ll accelerate growth; in Year Two, we’ll be at the growth level of our competitors; and in Year Three, we will outdo.”While the U.S. is Wipro’s biggest market now, Delaporte sees opportunity in Europe and Asia. He’s put together a new deals team -- headed by a chief growth officer -- to go after big client contracts. In the last few weeks, Wipro has landed orders from European clean energy producers Fortum Oyj and E.On SE.The company has also stepped up its acquisitions. He says he has signed more deals in the past five months than in the previous five years -- and plans to keep going.“I am confident you will see a bolder and a more ambitious Wipro as we move ahead,” said Rishad Premji, the company’s chairman.Picked from a crowded field of candidates, Delaporte was a surprise choice. The Frenchman is the first CEO of an India-based outsourcer who’s not of Indian ethnicity, a shift that reflects the industry’s transition.The business used to be simple, pay-by-the-hour labor arbitrage where Indian firms could substitute their own workers for more highly compensated tech staff in the U.S. and Europe. Now firms need to deliver innovation and strategic insights with global impact, helping their customers figure out new ways to capitalize on cloud computing, data analytics and artificial intelligence. The challenge of that new mission is reflected in industry growth rates that were once regularly in double digits and have since crashed.The coronavirus hammered the business this year. Lockdowns forced companies to schlep computers and backup batteries to workers’ homes.Yet the pandemic could prove to be a boon. Companies are stepping up their spending on technology and the largest outsourcers are reporting a faster-than-expected recovery. Wipro had stopped making revenue forecasts this year, along with the rest of the industry, but has since restarted, projecting 1.5% to 3.5% sequential growth in the current quarter.“Though it hasn’t always been the case in the past,” said Delaporte, “we’ll deliver on our forecast.”When he needs to think or wind down, Delaporte puts on his running shoes and hits the streets of Paris, clocking about 40 kilometers every week. “When I run more and more, I’m clearer in my mind,” he said.That’s helped give him clarity on the tenuous nature of his place at Wipro, even with a five-year CEO contract.“If Wipro is not growing, I’ll be the first one to go,” he said. “There’s no other way.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Some stories — you know, crazy pandemics, crazier elections, craziest wardrobe fails — make so many headlines these days that they’ve shoved otherwise major developments off to the side. One of those, 5G technology, promises to change mobile communications like nothing else in generations. Vying for a nice slice of the pie is Nokia (NYSE:NOK), much to the delight of those who own Nokia stock. Click to EnlargeSource: RistoH / Shutterstock.com The trouble is that with this 5G bakeoff, Nokia will at best win ugly and at worst lose uglier, snatching defeat from the jaws of victory. Just a few months back, Nokia had a full tummy eating the dust of China’s privately held Huawei Technologies — then the world’s undisputed 5G leader. But when the Commerce Department, citing Chinese espionage concerns, cut off Huawei’s access to advanced computer chips, it created a mobile miracle for Nokia and other players, including its Swedish rival Ericsson (NASDAQ:ERIC). The $21 billion question, then (that’s Nokia’s market capitalization) centers on whether the Finnish company has leveraged or squandered this once-in-a-cellular-lifetime opportunity. Effective Aug. 1, new CEO Pekka Lundmark was given the reigns to make victory possible. How’s he doing so far? And how’s Nokia stock doing given its recently ended quarter?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Nokia Stock Sinks Like a Rock The vernacular phrase quants and investment wonks use to describe NOK is “no can do.” If Lundmark’s return to Nokia after two decades away was supposed to inspire the troops, it’s hardly done any wonders for shareholders. Since August, Nokia stock has lopped off a quarter of its value. 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season Granted, much of the slump came off a terrible third quarter that largely predates Lundmark’s arrival. When that earnings report was released Oct. 29, shares of Nokia stock tumbled 13% as the company cut its full-year and margin forecasts. You have to admire Lundmark for putting on a brave face for his first-ever earnings release, given the glum nature of the news. He proclaimed that Nokia would do “whatever it takes” to take the lead in 5G — which is fine, except for a few things. Very big things. Huge things no new CEO can just pretend or pray will go away like a screened spam caller. Three Major Challenges Nokia Can’t Ignore First: If you can’t take the 5G lead or get anywhere close to it when the top dog is effectively cut off at the knees — which would require, in essence, nothing but just showing up — then you’re not going to convince anyone you’ll do “whatever it takes.” Second: Lundmark needs to prove he’s more than just a feel-good story. Sure, he’s returning to the company where he built his career — but hasn’t been around Nokia since the flip-phone era. He honed his CEO chops at Fortum (OTCMKTS:FOJCF), a Finnish energy company, and the analogy that could hold is that a championship football coach might not find his winning skills translate well to synchronized swimming. Finally: Nokia stock has lacked consistency and upward trajectory. While dismal this quarter, Nokia’s net profit for the April-June period shot up 22% to $376 million, this despite the challenges all telecoms have faced due to the novel coronavirus. So are we looking at a company on its way up? Or down? Or up and down? You tell me. If long-run prices were long distance calls, Nokia sends more mixed signals than you’d find in a Manhattan subway during a solar eclipse. Since 2016, prices have waxed or waned 25% or more every single year, and sometimes both (2017). Since January 2019, Nokia stock has been on a frightening nosedive of 37%. Quick Pekka! Call in the analysts! Who say… Anticlimax Over Analyst Anticipation Well, they’re hanging in there. The Wall Street Journal reports that currently, more than half (17 of 32) consider Nokia a buy. But 13 call it a hold and with a consensus share price target of $4.47 per share, we’re not talking champagne in the bathtub. (If we were, we’d kindly ask you not to drop your $700 Nokia 8.3 phone in there.) At present, Nokia stock trades at $3.75 so yes, a 19% lift would be nice. But again, so much depends on this little thing called 5G. I’m going to be honest: Nokia stock stumps me. On paper, it looks like it has all the elements to succeed, including an attractive price-to-earnings ratio of 24-to-1. With Huawei hobbled, 5G dominance is very much in the air and Nokia is still in the early innings of a new game. The new CEO may see paths to victory his predecessors did not. But to my mind and my gut, Nokia’s only consistency over the years has been its inconsistency. Bold moves, including the purchase of Alcatel-Lucent for $16.6 billion in 2015, have fizzled badly. Some people would call this a great time to buy the bottom; I’m more apt to call it flinging dollars into a broad, flat mud puddle. All that to say: While it’s not at all proper to write Nokia’s 5G epitaph, the company hasn’t proven ready to write a new chapter either. Those who hold Nokia stock only know the first line: “Whatever it takes,” right? Now that’s making a statement. Just not a case. On the date of publication, Lou Carlozo did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post Nokia Stock Still Hobbled by 5G Ineptitude appeared first on InvestorPlace.