Nokia Oyj (NYSE:NOK) Upgraded to “Buy” by Danske

Danske upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

A number of other analysts have also weighed in on NOK. Northland Securities reissued an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.54.

Nokia Oyj Stock Up 9.3 %

Shares of NOK opened at $4.75 on Friday. The firm has a market cap of $26.21 billion, a P/E ratio of 29.66, a P/E/G ratio of 5.47 and a beta of 1.12. The stock has a 50 day simple moving average of $4.28 and a two-hundred day simple moving average of $3.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.78.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. On average, analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Tuesday, October 22nd will be issued a $0.0324 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.13 annualized dividend and a yield of 2.73%. This is a boost from Nokia Oyj’s previous quarterly dividend of $0.03. Nokia Oyj’s payout ratio is 50.00%.

Institutional Trading of Nokia Oyj

Several large investors have recently added to or reduced their stakes in NOK. Pzena Investment Management LLC lifted its position in Nokia Oyj by 22.3% during the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock valued at $311,943,000 after buying an additional 15,035,360 shares during the period. Sei Investments Co. increased its stake in shares of Nokia Oyj by 1.5% during the first quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock valued at $9,467,000 after purchasing an additional 40,264 shares in the last quarter. TSP Capital Management Group LLC boosted its position in shares of Nokia Oyj by 89.2% in the 1st quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after purchasing an additional 1,027,600 shares in the last quarter. Russell Investments Group Ltd. increased its position in Nokia Oyj by 98.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after buying an additional 867,297 shares in the last quarter. Finally, Susquehanna International Securities Ltd. raised its stake in Nokia Oyj by 13.9% during the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock valued at $5,795,000 after buying an additional 199,590 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Company Profile

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.