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

Nokia Oyj (NYSE:NOK)’s stock price 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 changing hands.

Analyst Ratings Changes

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

Nokia Oyj Stock Performance

The firm has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.47. The firm has a market capitalization of $20.61 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. Research analysts expect that Nokia Oyj will post 0.38 earnings per share 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 issued a $0.0323 dividend. The ex-dividend date is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a yield of 3.53%. Nokia Oyj’s dividend payout ratio (DPR) is presently 56.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC purchased a new position in Nokia Oyj in the first quarter valued at $187,000. Drive Wealth Management LLC purchased a new position in Nokia Oyj in the first quarter valued at $48,000. Wealthstar Advisors LLC boosted its holdings in Nokia Oyj by 72.4% in the first quarter. Wealthstar Advisors LLC now owns 32,923 shares of the technology company’s stock valued at $117,000 after purchasing an additional 13,828 shares during the period. Sivia Capital Partners LLC boosted its holdings in Nokia Oyj by 22.0% in the first quarter. Sivia Capital Partners LLC now owns 17,678 shares of the technology company’s stock valued at $63,000 after purchasing an additional 3,184 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nokia Oyj in the first quarter valued at $35,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.