Nokia (NYSE:NOK) Trading 8.4% Higher – Here’s What Happened

Nokia Corporation (NYSE:NOK)’s stock price rose 8.4% during mid-day trading on Monday . The company traded as high as $14.05 and last traded at $13.8990. Approximately 142,274,702 shares traded hands during trading, an increase of 117% from the average daily volume of 65,505,594 shares. The stock had previously closed at $12.82.

Analyst Ratings Changes

NOK has been the topic of a number of recent analyst reports. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Finally, Barclays restated an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Nokia Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $9.26 and a 200 day moving average price of $7.54. 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.

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

Nokia Increases Dividend

The business 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. The ex-dividend date is Tuesday, April 28th. This represents a $0.19 annualized dividend and a dividend yield of 1.3%. This is a boost from Nokia’s previous quarterly dividend of $0.04. Nokia’s payout ratio is presently 75.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOK. Fifth Third Bancorp raised its holdings in shares of Nokia by 248.7% during the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after acquiring an additional 2,721 shares during the period. Wexford Capital LP acquired a new stake in shares of Nokia during the 3rd quarter worth about $29,000. FNY Investment Advisers LLC increased its position in shares of Nokia by 33,457.1% during the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares during the last quarter. Dorato Capital Management acquired a new stake in shares of Nokia during the 4th quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nokia during the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.