Nokia Oyj (NYSE:NOK) Hits New 12-Month Low - What's Next?

Nokia Oyj (NYSE:NOK - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.90 and last traded at $4.98, with a volume of 13924816 shares traded. The stock had previously closed at $4.97.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of research analyst reports. The Goldman Sachs Group cut shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target for the company. in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a research report on Friday, February 21st. Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.85.

Nokia Oyj Trading Up 0.2 %

The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 6.43 and a beta of 0.97. The company's fifty day moving average is $5.09 and its two-hundred day moving average is $4.74. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its earnings results 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 Oyj had a net margin of 6.54% and a return on equity of 10.30%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The company's quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $0.0336 dividend. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a yield of 2.70%. Nokia Oyj's payout ratio is currently 53.33%.

Institutional Investors Weigh In On Nokia Oyj

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its stake in shares of Nokia Oyj by 16.0% in the 1st quarter. Allworth Financial LP now owns 16,308 shares of the technology company's stock valued at $79,000 after purchasing an additional 2,248 shares during the last quarter. Capital Investment Counsel Inc boosted its stake in shares of Nokia Oyj by 11.0% in the first quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock valued at $128,000 after buying an additional 2,400 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Nokia Oyj by 14.0% in 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 in the last quarter. Parallel Advisors LLC lifted its holdings in Nokia Oyj by 11.0% in the first quarter. Parallel Advisors LLC now owns 25,781 shares of the technology company's stock valued at $136,000 after acquiring an additional 2,556 shares during the period. Finally, Mission Wealth Management LP boosted its position in shares of Nokia Oyj by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company's stock worth $480,000 after purchasing an additional 2,593 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Nokia Oyj Company Profile

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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