UBS Group cut shares of Nokia Oyj (NYSE:NOK – Get Rating) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, The Fly reports.
NOK has been the subject of a number of other reports. StockNews.com upgraded Nokia Oyj from a hold rating to a buy rating in a research report on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Nokia Oyj from €6.00 ($6.52) to €5.50 ($5.98) and set a buy rating for the company in a research report on Wednesday, November 9th. Societe Generale reduced their target price on Nokia Oyj from €5.80 ($6.30) to €5.40 ($5.87) and set a buy rating on the stock in a research note on Tuesday, October 25th. DNB Markets lowered Nokia Oyj from a buy rating to a hold rating in a research note on Tuesday, January 17th. Finally, Barclays reduced their target price on Nokia Oyj from €5.60 ($6.09) to €5.30 ($5.76) in a research note on Monday, October 24th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $5.88.
Get Nokia Oyj alerts:Nokia Oyj Stock Down 2.6 %
NYSE NOK opened at $4.79 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.59. The company has a market capitalization of $26.98 billion, a P/E ratio of 6.31, a P/E/G ratio of 5.99 and a beta of 0.90. Nokia Oyj has a one year low of $4.08 and a one year high of $5.85. The stock has a 50 day moving average price of $4.78 and a 200-day moving average price of $4.76.
Nokia Oyj (NYSE:NOK – Get Rating) last posted its earnings results on Thursday, January 26th. The technology company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.10 billion. Nokia Oyj had a return on equity of 12.31% and a net margin of 16.73%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. As a group, equities analysts predict that Nokia Oyj will post 0.46 EPS for the current fiscal year.Nokia Oyj Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st will be given a dividend of $0.0218 per share. The ex-dividend date is Monday, January 30th. This represents a $0.09 dividend on an annualized basis and a yield of 1.82%. This is an increase from Nokia Oyj's previous quarterly dividend of $0.01. Nokia Oyj's dividend payout ratio (DPR) is presently 7.69%.
Institutional Investors Weigh In On Nokia Oyj
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Nokia Oyj by 18.9% in the first quarter. BlackRock Inc. now owns 4,795,249 shares of the technology company's stock worth $26,183,000 after acquiring an additional 763,930 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nokia Oyj by 79.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,029,643 shares of the technology company's stock worth $27,462,000 after acquiring an additional 2,221,142 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Nokia Oyj in the first quarter worth about $55,000. Sequoia Financial Advisors LLC boosted its holdings in Nokia Oyj by 44.9% in the first quarter. Sequoia Financial Advisors LLC now owns 62,728 shares of the technology company's stock worth $343,000 after acquiring an additional 19,430 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Nokia Oyj by 171.3% during the first quarter. NewEdge Advisors LLC now owns 33,493 shares of the technology company's stock worth $183,000 after purchasing an additional 21,146 shares during the period. Institutional investors own 7.57% of the company's stock.
Nokia Oyj Company Profile
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Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The Mobile Networks segment offers technologies for Radio Access Networks (RAN) as well as Microwave Radio Links (MWR) for transport networks.
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