Nokia Oyj (NYSE:NOK) Upgraded at StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a neutral rating for the company in a research note on Tuesday, April 16th. Barclays downgraded shares of Nokia Oyj from an equal weight rating to an underweight rating in a report on Friday, January 19th. Finally, BNP Paribas initiated coverage on shares of Nokia Oyj in a report on Friday, January 12th. They issued a neutral rating for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $4.42.

Nokia Oyj Trading Up 2.0 %

NYSE:NOK opened at $3.52 on Friday. The firm has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $3.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.41 and a current ratio of 1.66. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.36. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The company had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the business earned $0.16 EPS. On average, equities analysts expect 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. Shareholders of record on Tuesday, April 23rd will be issued a $0.0323 dividend. This represents a $0.13 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, April 22nd. Nokia Oyj’s payout ratio is 68.75%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NOK. Pzena Investment Management LLC raised its position in shares of Nokia Oyj by 13,524.2% during the 3rd quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock valued at $160,039,000 after buying an additional 42,477,173 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Nokia Oyj by 10.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after buying an additional 9,908,461 shares in the last quarter. Millennium Management LLC raised its position in shares of Nokia Oyj by 55.0% during the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after buying an additional 9,842,934 shares in the last quarter. Renaissance Technologies LLC raised its position 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 purchasing an additional 7,419,900 shares during the period. Finally, BlackRock Inc. raised 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 worth $54,203,000 after purchasing an additional 5,321,714 shares during the period. 5.28% of the stock is owned by 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.