Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other research analysts also recently weighed in on the company. Barclays downgraded Nokia Oyj from an equal weight rating to an underweight rating in a research note on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $4.39 to $4.26 and set a neutral rating on the stock in a research note on Tuesday, April 16th. Finally, BNP Paribas started coverage on Nokia Oyj in a research note on Friday, January 12th. They set a neutral rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $4.42.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $3.70 on Friday. The company has a market capitalization of $20.84 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 0.98 and a beta of 1.09. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.36. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $3.54 and its 200-day moving average is $3.47.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the firm posted $0.16 EPS. Equities research analysts expect that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.0323 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.49%. Nokia Oyj’s dividend payout ratio (DPR) is currently 56.25%.

Institutional Trading of Nokia Oyj

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise increased its holdings in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares in the last quarter. Capital Management Associates Inc bought a new position in shares of Nokia Oyj during the fourth quarter valued at $34,000. Tieton Capital Management LLC bought a new position in shares of Nokia Oyj during the fourth quarter valued at $34,000. Peapack Gladstone Financial Corp bought a new position in shares of Nokia Oyj during the fourth quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Nokia Oyj during the first quarter valued at $35,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.