Nokia Oyj (NYSE:NOK) Plans $0.02 Quarterly Dividend

Nokia Oyj (NYSE:NOK) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.0226 per share by the technology company on Tuesday, February 18th. This represents a $0.09 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Tuesday, February 4th.

Nokia Oyj has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nokia Oyj to earn $0.36 per share next year, which means the company should continue to be able to cover its $0.13 annual dividend with an expected future payout ratio of 36.1%.

Nokia Oyj Stock Down 2.0 %

Nokia Oyj stock traded down $0.09 during trading hours on Friday, reaching $4.61. The stock had a trading volume of 22,022,594 shares, compared to its average volume of 18,901,027. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 57.58, a PEG ratio of 5.51 and a beta of 1.06. The business’s 50 day moving average price is $4.44 and its 200-day moving average price is $4.32. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Sell-side analysts anticipate that Nokia Oyj will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday, January 16th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities restated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum lifted their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.35 to $6.35 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of “Moderate Buy” and an average price target of $5.86.

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.