Nokia Oyj (NYSE:NOK) Upgraded 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 report issued on Friday.

NOK has been the subject of a number of other reports. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Stock Up 9.3 %

Shares of NYSE:NOK opened at $4.75 on Friday. The stock has a 50-day simple moving average of $4.28 and a 200-day simple moving average of $3.93. The stock has a market capitalization of $26.21 billion, a P/E ratio of 29.66, a PEG ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82.

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

Nokia Oyj Increases Dividend

The firm also recently announced 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. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, October 22nd. Nokia Oyj’s payout ratio is presently 50.00%.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Nokia Oyj during the 1st quarter worth $35,000. JGP Wealth Management LLC bought a new stake in shares of Nokia Oyj in the 3rd quarter worth about $45,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Nokia Oyj in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.