Nokia Corporation (NYSE:NOK) Receives $9.71 Consensus Target Price from Analysts

Nokia Corporation (NYSE:NOK) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.71.

Several equities analysts have commented on the stock. Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Citigroup reissued a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Finally, Danske cut Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOK. Fifth Third Bancorp grew its position in shares of Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after buying an additional 2,721 shares during the last quarter. Wexford Capital LP bought a new position in shares of Nokia during the third quarter worth about $29,000. FNY Investment Advisers LLC lifted its stake in shares of Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the period. Dorato Capital Management bought a new stake in Nokia in the fourth quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Nokia in the third quarter valued at approximately $34,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Price Performance

Nokia stock opened at $13.90 on Friday. The firm has a market cap of $79.81 billion, a PE ratio of 86.87, a price-to-earnings-growth ratio of 2.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The stock’s fifty day moving average price is $9.49 and its two-hundred day moving average price is $7.65. Nokia has a one year low of $4.00 and a one year high of $14.05.

Nokia (NYSE:NOK) last released its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a return on equity of 9.22% and a net margin of 4.02%.The firm had revenue of $5.21 billion during the quarter. As a group, research analysts expect that Nokia will post 0.4 EPS for the current fiscal year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 12th. Stockholders of record on Tuesday, April 28th will be issued a dividend of $0.0468 per share. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, April 28th. Nokia’s dividend payout ratio (DPR) is presently 81.25%.

Nokia Company Profile

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.