Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by Danske

Danske upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research report report published on Friday morning, Marketbeat reports.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th. Northland Securities restated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.54.

Nokia Oyj Price Performance

Shares of NOK opened at $4.75 on Friday. The company has a market capitalization of $26.21 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.78. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $4.28 and a 200 day moving average of $3.93.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $5.12 billion. As a group, equities research analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.0324 per share. This represents a $0.13 annualized dividend and a yield of 2.73%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, October 22nd. Nokia Oyj’s payout ratio is 50.00%.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Nokia Oyj by 29.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 44,033 shares of the technology company’s stock valued at $192,000 after purchasing an additional 10,117 shares in the last quarter. Vest Financial LLC purchased a new position in Nokia Oyj during the third quarter valued at $94,000. Blue Trust Inc. lifted its position in Nokia Oyj by 227.5% during the third quarter. Blue Trust Inc. now owns 48,062 shares of the technology company’s stock valued at $210,000 after purchasing an additional 33,386 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Nokia Oyj by 190.6% during the third quarter. Aaron Wealth Advisors LLC now owns 44,900 shares of the technology company’s stock valued at $196,000 after purchasing an additional 29,448 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Nokia Oyj by 30.8% during the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock valued at $59,000 after purchasing an additional 3,199 shares in the last quarter. Institutional investors 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.