Nokia (NYSE:NOK) Trading 3.7% Higher - Still a Buy?

Key Points

• Nokia shares rose 3.7% on Friday, trading as high as $13.05 on heavy volume of 95.6 million shares, well above its average session volume.
• Analyst sentiment remains mixed but leans positive: the stock has recent upgrades from Arete Research and Nordea Equity Research, while Goldman Sachs and Wall Street Zen issued downgrades. Overall, Nokia carries a Moderate Buy consensus with a $9.71 target price.
• Nokia raised its quarterly dividend to $0.0468 per share, up from $0.04, and reported quarterly EPS of $0.06 on revenue of $5.21 billion. The company currently offers a 1.5% dividend yield with a payout ratio of 75%.

Nokia Corporation (NYSE:NOK - Get Free Report)'s share price traded up 3.7% on Friday . The stock traded as high as $13.05 and last traded at $12.8110. 95,642,979 shares traded hands during trading, an increase of 48% from the average session volume of 64,618,438 shares. The stock had previously closed at $12.35.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Nokia from a "sell" rating to a "neutral" rating in a research report on Monday, March 30th. Wall Street Zen cut Nokia from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. Arete Research upgraded shares of Nokia from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Nordea Equity Research raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Finally, Barclays reiterated an "underweight" rating on shares of Nokia in a report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.71.

Nokia Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The stock has a market capitalization of $73.56 billion, a PE ratio of 80.07, a P/E/G ratio of 2.55 and a beta of 1.12. The company has a 50-day moving average of $9.26 and a two-hundred day moving average of $7.54.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The business had revenue of $5.21 billion for the quarter. Sell-side analysts predict that Nokia Corporation will post 0.4 EPS for the current fiscal 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 issued a dividend of $0.0468 per share. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, April 28th. This is a positive change from Nokia's previous quarterly dividend of $0.04. Nokia's payout ratio is currently 75.00%.

Institutional Investors Weigh In On Nokia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. J2 Capital Management Inc lifted its stake in shares of 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 purchasing an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock valued at $145,000 after buying an additional 1,450 shares during the period. Kathmere Capital Management LLC raised its holdings in 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 buying an additional 1,483 shares during the period. Xponance LLC lifted its position in Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after buying an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock worth $118,000 after buying an additional 1,591 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Company Profile

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.

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