Nokia (NYSE:NOK) Sets New 12-Month High – What’s Next?

Nokia Corporation (NYSE:NOK) shares hit a new 52-week high on Monday . The stock traded as high as $13.99 and last traded at $13.94, with a volume of 103580789 shares trading hands. The stock had previously closed at $12.82.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOK shares. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, April 27th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Nokia Stock Up 8.4%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The stock’s fifty day simple moving average is $9.26 and its 200-day simple moving average is $7.54. The stock has a market cap of $79.81 billion, a P/E ratio of 86.87, a P/E/G ratio of 2.48 and a beta of 1.12.

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

Nokia Increases Dividend

The business also recently announced 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 is an increase from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.19 annualized dividend and a dividend yield of 1.3%. Nokia’s payout ratio is currently 75.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOK. Fifth Third Bancorp increased its holdings in 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 period. FNY Investment Advisers LLC lifted its holdings 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 acquiring an additional 4,684 shares during the period. Dorato Capital Management acquired a new stake in shares of Nokia during the 4th quarter worth approximately $31,000. Smithfield Trust Co bought a new position in Nokia in the fourth quarter valued at approximately $35,000. Finally, Wexford Capital LP bought a new position in Nokia in the third quarter valued at approximately $29,000. Institutional investors and hedge funds 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.