Nokia Oyj (NYSE:NOK) Trading 2.7% Higher

Nokia Oyj (NYSE:NOK)’s share price traded up 2.7% during mid-day trading on Thursday . The stock traded as high as $3.43 and last traded at $3.42. 3,088,110 shares changed hands during trading, a decline of 79% from the average session volume of 15,025,717 shares. The stock had previously closed at $3.33.

Analyst Ratings Changes

NOK has been the subject of a number of analyst reports. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. BNP Paribas initiated coverage on Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research report on Tuesday. Finally, StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Price Performance

The company has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $3.47. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.96 and a beta of 1.09. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last posted 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). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the company posted $0.16 EPS. As a group, research analysts predict that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Tuesday, April 23rd will be given a $0.0323 dividend. This represents a $0.13 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, April 22nd. Nokia Oyj’s dividend payout ratio (DPR) is presently 56.25%.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC boosted its holdings in Nokia Oyj by 13,524.2% in the 3rd quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock worth $160,039,000 after acquiring an additional 42,477,173 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Nokia Oyj by 10.8% in the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after purchasing an additional 9,908,461 shares during the period. Millennium Management LLC increased its stake in Nokia Oyj by 55.0% during the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after buying an additional 9,842,934 shares during the period. Renaissance Technologies LLC lifted its holdings in Nokia Oyj by 35.1% in the 1st quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock worth $140,358,000 after buying an additional 7,419,900 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Nokia Oyj by 93.1% in the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock valued at $54,203,000 after buying an additional 5,321,714 shares during the last quarter. Hedge funds and other institutional investors 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.