Nokia Oyj (NYSE:NOK) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a hold rating in a research report report published on Monday morning.

Several other equities research analysts have also recently commented on NOK. Craig Hallum boosted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Price Performance

Shares of NOK opened at $5.01 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The firm has a market cap of $27.32 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 6.43 and a beta of 0.95. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48. The stock has a 50 day moving average of $5.09 and a 200-day moving average of $4.75.

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

Nokia Oyj Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $0.0336 dividend. This is an increase from Nokia Oyj’s previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, May 5th. Nokia Oyj’s payout ratio is currently 106.67%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wealthquest Corp acquired a new position in shares of Nokia Oyj in the 1st quarter valued at $27,000. Farther Finance Advisors LLC increased its stake in Nokia Oyj by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after acquiring an additional 2,651 shares during the period. Foundations Investment Advisors LLC bought a new position in Nokia Oyj during the fourth quarter worth about $45,000. D.A. Davidson & CO. acquired a new stake in Nokia Oyj during the fourth quarter valued at approximately $46,000. Finally, Wedmont Private Capital bought a new stake in shares of Nokia Oyj in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds 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.