Nokia Oyj (NYSE:NOK) to Issue Dividend Increase – $0.03 Per Share

Nokia Oyj (NYSE:NOK) announced a quarterly dividend on Friday, January 26th, Wall Street Journal reports. Stockholders of record on Tuesday, October 22nd will be given a dividend of 0.0324 per share by the technology company on Tuesday, November 5th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, October 22nd. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.03.

Nokia Oyj has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nokia Oyj to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.13 annual dividend with an expected future payout ratio of 37.1%.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.75 on Monday. The company has a market capitalization of $26.23 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a one year low of $2.94 and a one year high of $4.78. The company’s 50-day moving average is $4.28 and its 200 day moving average is $3.94.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Sell-side analysts expect that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on NOK. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Friday. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a report on Friday. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.54.

Nokia Oyj Company Profile

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.