Nokia Oyj (NYSE:NOK) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a research note released on Friday morning.

Other equities analysts also recently issued reports about the company. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. Northland Securities restated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Stock Performance

Nokia Oyj stock opened at $4.75 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.78. The company has a fifty day moving average price of $4.28 and a two-hundred day moving average price of $3.93. The company has a market cap of $26.21 billion, a PE ratio of 29.66, a P/E/G ratio of 5.47 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Research analysts expect that Nokia Oyj will post 0.36 earnings per share for the current year.

Nokia Oyj Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.0324 per share. The ex-dividend date is Tuesday, October 22nd. This is a boost from Nokia Oyj’s previous quarterly dividend of $0.03. This represents a $0.13 annualized dividend and a dividend yield of 2.73%. Nokia Oyj’s dividend payout ratio (DPR) is 50.00%.

Institutional Trading of Nokia Oyj

Several institutional investors have recently modified their holdings of NOK. GAMMA Investing LLC raised its position in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Nokia Oyj by 48.2% in the 1st 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 last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Nokia Oyj in the 1st quarter worth approximately $35,000. JGP Wealth Management LLC acquired a new stake in Nokia Oyj during the third quarter valued at approximately $45,000. Finally, Simplicity Wealth LLC bought a new stake in Nokia Oyj during the second quarter worth approximately $39,000. Institutional investors and hedge funds 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.