Nokia Oyj (NYSE:NOK) Shares Gap Up to $4.70


Nokia Oyj (NYSE:NOK – Get Rating) shares gapped up prior to trading on Thursday. The stock had previously closed at $4.70, but opened at $5.04. Nokia Oyj shares last traded at $5.08, with a volume of 660,689 shares traded.

Wall Street Analysts Forecast Growth

NOK has been the topic of a number of recent research reports. StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Sunday, May 15th. TheStreet cut Nokia Oyj from a “b-” rating to a “c” rating in a report on Thursday, April 28th. Cheuvreux cut Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday. Societe Generale cut their target price on Nokia Oyj from €6.70 ($6.77) to €6.10 ($6.16) and set a “buy” rating on the stock in a report on Friday, April 29th. Finally, Kepler Capital Markets cut Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Nokia Oyj presently has an average rating of “Moderate Buy” and an average target price of $6.65.

Nokia Oyj Trading Down 0.4%

The stock has a market capitalization of $28.74 billion, a PE ratio of 15.94 and a beta of 0.81. The firm has a 50-day moving average price of $4.79 and a 200-day moving average price of $5.19. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

Nokia Oyj (NYSE:NOK – Get Rating) last announced its earnings results on Thursday, April 28th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia Oyj had a return on equity of 12.81% and a net margin of 7.01%. The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same period last year, the firm posted $0.08 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Nokia Oyj will post 0.42 EPS for the current fiscal year.

Nokia Oyj Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Tuesday, July 26th will be given a dividend of $0.0205 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, July 25th. Nokia Oyj’s dividend payout ratio is presently 3.13%.

Institutional Investors Weigh In On Nokia Oyj

Several large investors have recently made changes to their positions in NOK. UMB Bank NA MO purchased a new stake in Nokia Oyj in the 4th quarter worth about $26,000. Credit Agricole SA purchased a new stake in Nokia Oyj in the 4th quarter worth about $27,000. Nauset Wealth Management. LLC a new stake in Nokia Oyj in the 1st quarter purchased worth about $27,000. Masso Torrence Wealth Management Inc. a new stake in Nokia Oyj in the 4th quarter purchased worth about $34,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in Nokia Oyj in the 1st quarter worth about $33,000. 16.25% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Company Profile

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Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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