Nokia Oyj (NYSE:NOK – Get Rating) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from €5.50 ($5.56) to €6.00 ($6.06) in a research report sent to investors on Friday morning, The Fly reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on NOK. Kepler Capital Markets cut Nokia Oyj from a buy rating to a hold rating in a research report on Friday. TheStreet cut Nokia Oyj from a b- rating to a c rating in a research report on Thursday, April 28th. Cheuvreux cut Nokia Oyj from a buy rating to a hold rating in a research report on Friday. AlphaValue upgraded Nokia Oyj to a buy rating in a research report on Friday, May 13th. Finally, Societe Generale dropped their target price on Nokia Oyj from €6.70 ($6.77) to €6.10 ($6.16) and set a buy rating on the stock in a research report on Friday, April 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Nokia Oyj has an average rating of Moderate Buy and a consensus price target of $6.65.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $5.10 on Friday. The stock has a market capitalization of $28.74 billion, a PE ratio of 15.00 and a beta of 0.81. Nokia Oyj has a 52-week low of $4.37 and a 52-week high of $6.40. The stock’s 50-day moving average price is $4.79 and its 200 day moving average price is $5.17. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.25.

Nokia Oyj (NYSE:NOK – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Nokia Oyj had a return on equity of 12.26% and a net margin of 7.32%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, equities research analysts forecast that Nokia Oyj will post 0.42 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Tuesday, July 26th will be issued a $0.0205 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, July 25th. Nokia Oyj’s dividend payout ratio is currently 2.94%.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank N A MO purchased a new stake in Nokia Oyj in the 4th quarter valued at approximately $26,000. Credit Agricole S A purchased a new stake in Nokia Oyj in the 4th quarter valued at approximately $27,000. Nauset Wealth Management. LLC purchased a new stake in Nokia Oyj in the 1st quarter valued at approximately $27,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Nokia Oyj in the 1st quarter valued at approximately $33,000. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in Nokia Oyj in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 16.25% of the company’s stock.

About Nokia Oyj

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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.

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Source: https://www.defenseworld.net/2022/07/25/nokia-oyj-nysenok-price-target-raised-to-6-00.html