Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.48

Nokia Oyj (NYSE:NOK)’s share price gapped up prior to trading on Monday . The stock had previously closed at $3.48, but opened at $3.66. Nokia Oyj shares last traded at $3.69, with a volume of 8,452,013 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NOK shares. JPMorgan Chase & Co. reduced their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. BNP Paribas started coverage on shares of Nokia Oyj in a research report on Friday, January 12th. They set a “neutral” rating on the stock. Finally, Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj has a consensus rating of “Hold” and an average price target of $4.42.

Nokia Oyj Stock Performance

The company’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $3.47. The stock has a market cap of $20.73 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the prior year, the company earned $0.16 earnings per share. Analysts expect that Nokia Oyj will post 0.38 earnings per share for the current year.

Nokia Oyj Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be issued a $0.0323 dividend. This represents a $0.13 annualized dividend and a yield of 3.51%. The ex-dividend date is Monday, April 22nd. Nokia Oyj’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its holdings in Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after buying an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Nokia Oyj in the 1st quarter worth approximately $35,000. Paradigm Asset Management Co. LLC bought a new position in Nokia Oyj in the 3rd quarter worth approximately $37,000. Capital Management Associates Inc bought a new position in Nokia Oyj in the 4th quarter worth approximately $34,000. Finally, Tieton Capital Management LLC bought a new position in Nokia Oyj in the 4th quarter worth approximately $34,000. 5.28% of the stock is owned by institutional investors.

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.