Nokia Oyj (NYSE:NOK) Upgraded to “Buy” by 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.

Other equities analysts also recently issued research reports about the company. Barclays downgraded Nokia Oyj from an equal weight rating to an underweight rating in a research report on Friday, January 19th. BNP Paribas assumed coverage on Nokia Oyj in a research report on Friday, January 12th. They issued a neutral rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Nokia Oyj from $4.39 to $4.26 and set a neutral rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Nokia Oyj has an average rating of Hold and an average target price of $4.42.

Nokia Oyj Stock Up 1.9 %

Shares of NOK opened at $3.52 on Friday. The firm has a market cap of $19.80 billion, a P/E ratio of 21.97, a PEG ratio of 0.96 and a beta of 1.09. The stock’s 50 day moving average is $3.53 and its two-hundred day moving average is $3.47. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.36. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.40%. During the same quarter last year, the business earned $0.16 EPS. Analysts predict that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Nokia Oyj Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.0323 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 dividend on an annualized basis and a yield of 3.67%. Nokia Oyj’s payout ratio is 56.25%.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC purchased a new stake in Nokia Oyj in the third quarter valued at $67,000. Sowell Financial Services LLC purchased a new stake in Nokia Oyj in the fourth quarter valued at $333,000. O Shaughnessy Asset Management LLC raised its position in Nokia Oyj by 22.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 20,396 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,767 shares during the period. QRG Capital Management Inc. purchased a new stake in Nokia Oyj in the third quarter valued at $768,000. Finally, Walleye Capital LLC purchased a new stake in Nokia Oyj in the third quarter valued at $12,591,000. Hedge funds and other institutional investors 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.