Nokia (NYSE:NOK) Shares Gap Down - Time to Sell?

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $5.17, but opened at $5.05. Nokia shares last traded at $5.11, with a volume of 2,113,464 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average price target of $5.85.

Nokia Trading Down 1.1%

The business's 50-day simple moving average is $5.20 and its 200-day simple moving average is $4.94. The company has a market cap of $27.89 billion, a PE ratio of 34.10 and a beta of 0.93. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a return on equity of 8.73% and a net margin of 4.09%. The firm had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. Nokia's revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Increases Dividend

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

Institutional Trading of Nokia

Several large investors have recently modified their holdings of the company. ICONIQ Capital LLC boosted its holdings in Nokia by 5.7% during the first quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company's stock valued at $215,000 after acquiring an additional 2,205 shares during the period. Allworth Financial LP increased its position 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 buying an additional 2,248 shares during the period. Capital Investment Counsel Inc lifted its holdings in shares of Nokia by 11.0% during the first quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock worth $128,000 after buying an additional 2,400 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Nokia by 5.0% in the first 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 during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in Nokia by 14.0% during the fourth 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 during the period. 5.28% of the stock is owned by institutional investors.

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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