Nokia Corporation (NYSE:NOK) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.85.

A number of research firms have recently weighed in on NOK. JPMorgan Chase & Co. lowered their price target on shares of Nokia from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st.

Nokia Trading Down 2.7%

NOK stock opened at $5.16 on Wednesday. The company has a market capitalization of $28.11 billion, a PE ratio of 34.37, a P/E/G ratio of 6.96 and a beta of 0.93. Nokia has a 12 month low of $3.60 and a 12 month high of $5.48. The firm's 50-day moving average is $5.18 and its 200 day moving average is $4.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.36 and a quick ratio of 1.15.

Nokia (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. Nokia had a net margin of 4.09% and a return on equity of 8.73%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, research analysts anticipate that Nokia will post 0.34 EPS for the current year.

Nokia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.0336 per share. This represents a $0.13 annualized dividend and a dividend yield of 2.61%. This is a positive change from Nokia's previous quarterly dividend of $0.02. The ex-dividend date was Monday, May 5th. Nokia's payout ratio is 80.00%.

Hedge Funds Weigh In On Nokia

Several institutional investors have recently made changes to their positions in the company. ICONIQ Capital LLC increased its holdings in shares of Nokia by 5.7% during the 1st quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company's stock valued at $215,000 after purchasing an additional 2,205 shares in the last quarter. Allworth Financial LP increased its holdings in Nokia by 16.0% in the 1st quarter. Allworth Financial LP now owns 16,308 shares of the technology company's stock worth $79,000 after acquiring an additional 2,248 shares in the last quarter. Capital Investment Counsel Inc increased its holdings in Nokia by 11.0% in the 1st quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock worth $128,000 after acquiring an additional 2,400 shares in the last quarter. National Bank of Canada FI increased its holdings in Nokia by 5.0% in the 1st quarter. National Bank of Canada FI now owns 50,603 shares of the technology company's stock worth $266,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in Nokia by 14.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 20,442 shares of the technology company's stock worth $91,000 after acquiring an additional 2,509 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia 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.

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