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

Nokia Oyj (NYSE:NOK)’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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOK. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. BNP Paribas assumed coverage on Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.42.

Nokia Oyj Stock Performance

The business has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $3.47. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.61 billion, a P/E ratio of 23.13, a P/E/G ratio of 0.98 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. During the same quarter last year, the company posted $0.16 EPS. On average, sell-side analysts predict that Nokia Oyj will post 0.38 EPS for the current fiscal year.

Nokia Oyj Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.0323 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.13 annualized dividend and a dividend yield of 3.53%. Nokia Oyj’s payout ratio is presently 56.25%.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its holdings in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Nokia Oyj during the first quarter valued at $35,000. Paradigm Asset Management Co. LLC purchased a new stake in shares of Nokia Oyj during the third quarter valued at $37,000. Capital Management Associates Inc purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at $34,000. Finally, Tieton Capital Management LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at $34,000. 5.28% of the stock is currently owned by institutional investors.

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.