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 report published on Wednesday morning.

Separately, JPMorgan Chase & Co. decreased their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $5.34 on Wednesday. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48. The company’s 50 day moving average price is $5.11 and its two-hundred day moving average price is $4.78. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The stock has a market cap of $29.09 billion, a P/E ratio of 21.34, a P/E/G ratio of 6.43 and a beta of 0.95.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the prior year, the business earned $0.09 EPS. Nokia Oyj’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $0.0336 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 annualized dividend and a dividend yield of 2.52%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s dividend payout ratio (DPR) is presently 80.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOK. Park Avenue Securities LLC grew its stake in Nokia Oyj by 71.6% in the 4th quarter. Park Avenue Securities LLC now owns 40,756 shares of the technology company’s stock valued at $181,000 after buying an additional 17,006 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Nokia Oyj in the 4th quarter valued at approximately $162,000. Aaron Wealth Advisors LLC grew its stake in Nokia Oyj by 14.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 51,583 shares of the technology company’s stock valued at $229,000 after buying an additional 6,683 shares in the last quarter. Ballentine Partners LLC grew its stake in Nokia Oyj by 7.0% in the 4th quarter. Ballentine Partners LLC now owns 58,540 shares of the technology company’s stock valued at $259,000 after buying an additional 3,808 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Nokia Oyj by 1.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 379,055 shares of the technology company’s stock valued at $1,680,000 after buying an additional 4,943 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.