Analysts Set Nokia Corporation (NYSE:NOK) PT at $9.71

Nokia Corporation (NYSE:NOK) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.71.

A number of equities analysts have recently commented on NOK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Friday. Barclays reiterated an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Danske cut Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Nordea Equity Research upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Finally, Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. J2 Capital Management Inc raised its holdings in Nokia by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after buying an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after acquiring an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,483 shares during the last quarter. Xponance LLC boosted its holdings in shares of Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,567 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Down 3.8%

Nokia stock traded down $0.55 during mid-day trading on Friday, reaching $13.92. The stock had a trading volume of 108,799,309 shares, compared to its average volume of 121,825,520. The stock’s 50-day simple moving average is $9.97 and its 200-day simple moving average is $7.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $15.19. The firm has a market capitalization of $79.90 billion, a PE ratio of 86.97, a price-to-earnings-growth ratio of 2.80 and a beta of 1.12.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a return on equity of 9.22% and a net margin of 4.02%. On average, sell-side analysts forecast that Nokia will post 0.4 EPS for the current fiscal year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.0468 per share. The ex-dividend date was Tuesday, April 28th. This is a positive change from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 annualized dividend and a yield of 1.3%. Nokia’s dividend payout ratio (DPR) is currently 81.25%.

About Nokia

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.