Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Nokia Corporation has received a consensus recommendation of "Moderate Buy" from five analysts, with an average 12-month price target of $5.7750.
• The company reported earnings of $0.05 per share for the last quarter, which fell short of analysts' expectations, despite a revenue of $5.34 billion exceeding forecasts.
• Nokia recently announced a dividend of $0.0317 per share, with a high yield of 293.0% and a payout ratio of 65%.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have earned an average rating of "Moderate Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.7750.

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price target on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th.

Nokia Trading Up 0.6%

Shares of Nokia stock opened at $4.12 on Thursday. Nokia has a 1 year low of $3.72 and a 1 year high of $5.48. The company has a market capitalization of $22.14 billion, a P/E ratio of 20.58 and a beta of 0.88. The business has a 50 day moving average price of $4.93 and a 200 day moving average price of $4.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%. The firm had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Nokia will post 0.34 EPS for the current fiscal year.

Nokia Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $0.0317 per share. The ex-dividend date is Tuesday, July 29th. This represents a yield of 293.0%. Nokia's payout ratio is currently 65.00%.

Hedge Funds Weigh In On Nokia

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Nokia by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock worth $219,292,000 after purchasing an additional 19,004,399 shares during the last quarter. Slate Path Capital LP boosted its holdings in shares of Nokia by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company's stock valued at $134,845,000 after buying an additional 4,113,884 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Nokia by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock valued at $66,140,000 after buying an additional 1,002,033 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Nokia in the fourth quarter valued at approximately $53,481,000. Finally, Woodline Partners LP raised its position in shares of Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock worth $53,162,000 after purchasing an additional 6,677,017 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.

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