Nokia Corporation (NOK) to Distribute Quarterly Dividend of $0.05 on August 11th

Nokia Corporation (NYSE:NOK) declared a quarterly dividend on Friday, February 27th. Investors of record on Tuesday, July 28th will be given a dividend of 0.0455 per share by the technology company on Tuesday, August 11th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, July 28th.

Nokia has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nokia to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 24.0%.

Nokia Price Performance

NOK stock opened at $9.07 on Friday. The firm has a 50 day simple moving average of $13.37 and a two-hundred day simple moving average of $10.26. The stock has a market cap of $52.11 billion, a PE ratio of 64.81, a P/E/G ratio of 1.29 and a beta of 1.17. Nokia has a one year low of $4.00 and a one year high of $17.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.92%. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Nokia will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research note on Tuesday, June 9th. Barclays reissued an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Finally, Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a research report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

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.