Nokia Oyj (NYSE:NOK) Shares Gap Down to $3.69

Nokia Oyj (NYSE:NOK - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.69, but opened at $3.58. Nokia Oyj shares last traded at $3.63, with a volume of 4,478,814 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOK shares. Barclays downgraded Nokia Oyj from an "equal weight" rating to an "underweight" rating in a research note on Friday, January 19th. BNP Paribas started coverage on Nokia Oyj in a report on Friday, January 12th. They set a "neutral" rating for the company. StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a "neutral" rating on the stock in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $4.42.

Nokia Oyj Stock Down 0.3 %

The stock's fifty day moving average is $3.54 and its two-hundred day moving average is $3.47. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $20.73 billion, a PE ratio of 22.88, a P/E/G ratio of 0.98 and a beta of 1.09.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. The firm had revenue of $6.15 billion during the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the previous year, the company posted $0.16 EPS. As a group, analysts predict that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be paid a $0.0323 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, April 22nd. Nokia Oyj's dividend payout ratio is currently 56.25%.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership boosted its holdings in Nokia Oyj by 5.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company's stock worth $365,152,000 after buying an additional 5,087,927 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Nokia Oyj by 22.3% in the fourth quarter. Pzena Investment Management LLC now owns 52,313,442 shares of the technology company's stock worth $178,912,000 after acquiring an additional 9,522,186 shares during the period. Walleye Capital LLC bought a new position in shares of Nokia Oyj in the third quarter worth $12,591,000. FMR LLC raised its stake in shares of Nokia Oyj by 4.3% during the 3rd quarter. FMR LLC now owns 2,181,834 shares of the technology company's stock valued at $8,160,000 after purchasing an additional 90,895 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Nokia Oyj by 379.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,493,893 shares of the technology company's stock worth $5,109,000 after purchasing an additional 1,182,184 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

About Nokia Oyj

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.