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

Nokia Oyj (NYSE:NOK) gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

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

Nokia Oyj Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.64 and a quick ratio of 1.40. The business has a 50-day moving average of $3.54 and a 200-day moving average of $3.47. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.15 and a beta of 1.09.

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

Nokia Oyj Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be given a $0.0323 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, April 22nd. Nokia Oyj’s dividend payout ratio is currently 75.00%.

Institutional Trading of Nokia Oyj

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in Nokia Oyj by 8.6% during the fourth quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock worth $120,000 after purchasing an additional 2,788 shares during the period. First Affirmative Financial Network grew its holdings in Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,932 shares during the period. Banque Cantonale Vaudoise grew its holdings in Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the period. Gallacher Capital Management LLC grew its holdings in Nokia Oyj by 4.5% during the fourth quarter. Gallacher Capital Management LLC now owns 71,221 shares of the technology company’s stock worth $244,000 after purchasing an additional 3,069 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its holdings in Nokia Oyj by 5.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 59,924 shares of the technology company’s stock worth $205,000 after purchasing an additional 3,129 shares during the period. Institutional investors and hedge funds 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.