Brokerages Set Nokia Corporation (NYSE:NOK) Price Target at $5.85

Nokia Corporation (NYSE:NOK - Get Free Report) has received an average recommendation of "Moderate Buy" from the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.85.

Several analysts recently commented on NOK shares. JPMorgan Chase & Co. dropped their price objective on Nokia from $6.35 to $6.30 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st.

Nokia Trading Down 1.1%

NOK traded down $0.06 during mid-day trading on Wednesday, reaching $5.12. The stock had a trading volume of 12,966,467 shares, compared to its average volume of 18,274,257. The stock has a market capitalization of $27.89 billion, a P/E ratio of 34.10, a P/E/G ratio of 6.74 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.36. The firm's fifty day simple moving average is $5.19 and its two-hundred day simple moving average is $4.93. Nokia has a 52 week low of $3.60 and a 52 week high of $5.48.

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

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Nokia's previous quarterly dividend of $0.02. Nokia's payout ratio is 80.00%.

Institutional Investors Weigh In On Nokia

Institutional investors have recently made changes to their positions in the company. Wealthquest Corp bought a new stake in shares of Nokia during the first quarter worth approximately $27,000. Harbour Investments Inc. lifted its stake in Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock worth $27,000 after purchasing an additional 5,003 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Nokia by 58.4% during the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after purchasing an additional 2,651 shares during the last quarter. Assetmark Inc. lifted its stake in Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after purchasing an additional 7,286 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Nokia during the fourth quarter worth $46,000. Institutional investors own 5.28% of the company's stock.

About Nokia

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.