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

Key Points

• Nokia currently has a consensus analyst rating of “Moderate Buy” from 18 analysts, with 12 buy ratings, 4 hold ratings, and 2 sell ratings. The average 12-month price target is $9.71.
• Several analysts have recently turned more bullish on the stock, including Bank of America, Arete Research, and Nordea Equity Research, while Citigroup maintained a sell rating. Recent price targets range as high as $13.00.
• Nokia raised its quarterly dividend to $0.0468 per share from $0.04, which implies an annualized payout of about $0.19 and a dividend yield of 1.5%. The company also reported quarterly EPS of $0.06 and revenue of $5.21 billion.

Nokia Corporation (NYSE:NOK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.71.

A number of analysts have recently commented on NOK shares. Northland Securities set a $13.00 price objective on shares of Nokia in a research report on Monday, April 20th. Citigroup reaffirmed a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. Bank of America raised shares of Nokia from a "neutral" rating to a "buy" rating and set a $12.40 price target on the stock in a research report on Monday, April 13th. Arete Research upgraded shares of Nokia from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 29th. Finally, Nordea Equity Research upgraded Nokia from a "hold" rating to a "buy" rating in a report on Friday, April 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOK. J2 Capital Management Inc grew its holdings in Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock valued at $548,000 after buying an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock worth $145,000 after buying an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC boosted its position in shares of Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock valued at $97,000 after acquiring an additional 1,483 shares during the period. Xponance LLC boosted its position in shares of Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,567 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock valued at $118,000 after acquiring an additional 1,591 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

Nokia Trading Up 3.7%

NOK opened at $12.81 on Friday. The firm's fifty day moving average is $9.26 and its two-hundred day moving average is $7.54. The firm has a market cap of $73.56 billion, a PE ratio of 80.07, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. Nokia has a twelve month low of $4.00 and a twelve month high of $13.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.22% and a net margin of 4.02%.The company had revenue of $5.21 billion for the quarter. Equities research analysts anticipate that Nokia will post 0.4 EPS for the current year.

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Stockholders of record on Tuesday, April 28th will be given a $0.0468 dividend. This is a boost from Nokia's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.5%. Nokia's payout ratio is 81.25%.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia's core activities center on designing, building and supporting communications networks and related software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.