Earnings Previews: eBay, PayPal, Qualcomm, Nokia, Vista Outdoors

Nokia reports results Thursday morning before markets open. Analysts are expecting it to post quarterly EPS of $0.13, down 24% year over year, on revenue of $7.4 billion, down 2.8%. For the full year, analysts are looking for EPS of $0.26, a penny better than a year ago, on sales of $25.2 billion, a decline of about 3.4%.

At Tuesday’s trading price of around $4.50, the stock trades at a multiple of 17 to expected 2020 EPS and a multiple of nearly 19 to forecast 2021 earnings. The stock’s price target is $4.53, and Nokia does not pay a dividend. So far Tuesday morning, nearly 112 million Nokia shares had changed hands.

Vista Outdoor

Also expected to report results early Thursday is Vista Outdoor Inc. (NYSE: VSTO). The company is interesting because outdoor gear and equipment have been big sellers since the pandemic has forced so many people to stay cooped up for so long. Getting outside is both safe and relaxing, and this could be a big winner for Vista in the final two quarters of its 2021 fiscal year.

The company’s shooting sports division (by far its largest) accounted for 68% of revenues in the 2020 fiscal year that ended in June. In the first two quarters of the 2021 fiscal year, Vista’s ammo sales are more than 28% higher than in the first half of the prior year and more than three times outdoor gear sales.

The company forecast lower sales and profits for its third quarter. Analysts are looking for EPS of $0.65, more than triple the amount in the year-ago quarter, and sales of $520.1 million, up nearly 30% year over year. For the fiscal year ending in March, analysts are forecasting EPS of $2.75, up more than 10 times from the prior-year quarter on sales of $2.08 billion, up by 18.6%.

At a recent price of around $30.65, the stock has a potential gain of around 10.2% to the consensus price target of $33.78. At a high price target of $39, the implied gain is more than 17%. Vista Outdoor does not pay a dividend.

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