Nokia Oyj (NYSE:NOK) Hits New 1-Year Low at $4.23

Shares of Nokia Oyj (NYSE:NOKGet Rating) reached a new 52-week low during trading on Friday . The company traded as low as $4.23 and last traded at $4.28, with a volume of 518819 shares. The stock had previously closed at $4.44.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of research reports. Credit Suisse Group upgraded shares of Nokia Oyj from a “neutral” rating to an “outperform” rating in a report on Thursday, September 15th. Citigroup upgraded shares of Nokia Oyj from a “neutral” rating to a “buy” rating in a report on Tuesday, June 14th. Cheuvreux lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Kepler Capital Markets lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nokia Oyj from €5.50 ($5.61) to €6.00 ($6.12) and gave the company a “buy” rating in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.23.

Nokia Oyj Price Performance

The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 5.73 and a beta of 0.83. The company has a current ratio of 1.60, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $4.98 and its two-hundred day simple moving average is $4.99.

Nokia Oyj (NYSE:NOKGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Nokia Oyj had a net margin of 7.32% and a return on equity of 12.24%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.07 billion. As a group, research analysts expect that Nokia Oyj will post 0.44 EPS for the current fiscal year.

Nokia Oyj Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Tuesday, July 26th were given a $0.0205 dividend. This represents a $0.08 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Monday, July 25th. Nokia Oyj’s payout ratio is currently 8.82%.

Institutional Trading of Nokia Oyj

Hedge funds have recently bought and sold shares of the business. Artisan Partners Limited Partnership lifted its stake in Nokia Oyj by 11.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 77,792,262 shares of the technology company’s stock valued at $358,622,000 after acquiring an additional 7,779,441 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Nokia Oyj by 9.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock worth $223,416,000 after purchasing an additional 3,569,621 shares during the period. Folketrygdfondet raised its stake in shares of Nokia Oyj by 18,847.2% during the 2nd quarter. Folketrygdfondet now owns 17,897,919 shares of the technology company’s stock worth $82,510,000 after purchasing an additional 17,803,457 shares during the period. Bank of Montreal Can raised its stake in shares of Nokia Oyj by 235.5% during the 2nd quarter. Bank of Montreal Can now owns 17,376,848 shares of the technology company’s stock worth $84,589,000 after purchasing an additional 12,198,025 shares during the period. Finally, Capital International Investors raised its stake in shares of Nokia Oyj by 4.8% during the 1st quarter. Capital International Investors now owns 8,767,686 shares of the technology company’s stock worth $48,485,000 after purchasing an additional 403,231 shares during the period. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Nokia Oyj

(Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

Read More

Receive News & Ratings for Nokia Oyj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Oyj and related companies with MarketBeat.com's FREE daily email newsletter.