Nokia Oyj (NYSE:NOK) Shares Gap Down to $3.69

Shares of Nokia Oyj (NYSE:NOK) gapped down prior to trading on Tuesday . The stock had previously closed at $3.69, but opened at $3.58. Nokia Oyj shares last traded at $3.63, with a volume of 4,478,814 shares traded.

Analyst Upgrades and Downgrades

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

Nokia Oyj Stock Performance

The firm has a market cap of $20.61 billion, a P/E ratio of 22.88, a P/E/G 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. The company’s 50 day moving average is $3.54 and its 200 day moving average is $3.47.

Nokia Oyj (NYSE:NOK) last announced 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). The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.66 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. During the same period in the prior year, the business earned $0.16 EPS. As a group, equities analysts predict that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Nokia Oyj Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.0323 per share. This represents a $0.13 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, April 22nd. Nokia Oyj’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Trading of Nokia Oyj

Several hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise raised its position in shares of Nokia Oyj by 48.2% in the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the period. Capital Management Associates Inc bought a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $34,000. Tieton Capital Management LLC bought a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $34,000. Peapack Gladstone Financial Corp bought a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nokia Oyj during the first quarter valued at approximately $35,000. 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.