JPMorgan Chase & Co. Lowers Nokia Oyj (NYSE:NOK) Price Target to $4.26

Nokia Oyj (NYSE:NOK) had its price objective trimmed by JPMorgan Chase & Co. from $4.39 to $4.26 in a research note published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Nokia Oyj from a buy rating to a neutral rating and lowered their price target for the stock from $5.10 to $3.40 in a report on Monday, December 18th. Barclays downgraded Nokia Oyj from an equal weight rating to an underweight rating in a report on Friday, January 19th. Finally, BNP Paribas started coverage on Nokia Oyj in a report on Friday, January 12th. They issued a neutral rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of Hold and a consensus target price of $4.42.

Nokia Oyj Trading Up 1.9 %

NYSE NOK opened at $3.52 on Tuesday. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.36. The stock has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $3.47. The company has a market capitalization of $19.80 billion, a PE ratio of 21.97, a P/E/G ratio of 0.96 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter last year, the company earned $0.16 earnings per share. Research analysts forecast that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.0323 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 annualized dividend and a dividend yield of 3.67%. Nokia Oyj’s dividend payout ratio is currently 56.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its position in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after buying an additional 3,000 shares during the period. Capital Management Associates Inc acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $34,000. Tieton Capital Management LLC acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $34,000. Advisors Asset Management Inc. acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $34,000. Finally, Peapack Gladstone Financial Corp acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $35,000. 5.28% of the stock is owned by institutional investors and hedge funds.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.