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

Nokia Oyj (NYSE:NOK) declared a quarterly dividend on Friday, January 26th, Wall Street Journal reports. Shareholders 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 annualized dividend and a 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 dividend payout ratio of 37.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 9.4 %

Shares of NOK stock opened at $4.75 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The company has a market cap of $26.23 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.78. The firm has a fifty day moving average price of $4.28 and a 200-day moving average price of $3.94.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. As a group, equities analysts predict that Nokia Oyj will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

NOK has been the subject of several analyst reports. Northland Securities reissued an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a report on Friday. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.54.

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.