Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.48

Nokia Oyj (NYSE:NOK - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $3.48, but opened at $3.66. Nokia Oyj shares last traded at $3.69, with a volume of 8,452,013 shares traded.

Analysts Set New Price Targets

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

Nokia Oyj Stock Performance

The firm has a market capitalization of $20.84 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. 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 business's 50 day simple moving average is $3.54 and its two-hundred day simple moving average is $3.47.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share 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 company had revenue of $6.15 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. Sell-side analysts anticipate that Nokia Oyj will post 0.38 EPS for the current fiscal year.

Nokia Oyj Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Tuesday, April 23rd will be paid a dividend of $0.0323 per share. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, April 22nd. Nokia Oyj's dividend payout ratio (DPR) is 56.25%.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Axxcess Wealth Management LLC bought a new position in Nokia Oyj in the 3rd quarter valued at $67,000. Sowell Financial Services LLC acquired a new stake in Nokia Oyj in the fourth quarter valued at approximately $333,000. O Shaughnessy Asset Management LLC increased its position in Nokia Oyj by 22.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,396 shares of the technology company's stock valued at $76,000 after buying an additional 3,767 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Nokia Oyj in the 3rd quarter valued at approximately $768,000. Finally, Walleye Capital LLC acquired a new stake in shares of Nokia Oyj during the third quarter worth $12,591,000. 5.28% of the stock is owned by institutional investors.

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.