Nokia (NYSE:NOK) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 25,249,294 shares, a decrease of 16.5% from the February 15th total of 30,252,506 shares. Based on an average daily volume of 15,246,161 shares, the short-interest ratio is presently 1.7 days.
Hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. purchased a new position in Nokia in the 4th quarter worth about $102,000. Tiedemann Wealth Management LLC purchased a new position in Nokia in the 3rd quarter worth about $114,000. Quantitative Systematic Strategies LLC purchased a new position in Nokia in the 4th quarter worth about $116,000. Strategic Global Advisors LLC purchased a new position in Nokia in the 3rd quarter worth about $143,000. Finally, Paloma Partners Management Co increased its stake in Nokia by 192.8% in the 4th quarter. Paloma Partners Management Co now owns 31,353 shares of the technology company’s stock worth $146,000 after buying an additional 20,644 shares during the period. 6.64% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on NOK. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Credit Suisse Group cut shares of Nokia from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $4.89 to $5.00 in a research note on Friday, January 5th. MKM Partners raised shares of Nokia from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $5.50 to $7.50 in a research note on Friday, February 2nd. Canaccord Genuity reissued a “hold” rating and issued a $6.00 price objective on shares of Nokia in a research note on Thursday, February 1st. Finally, Goldman Sachs restated a “neutral” rating on shares of Nokia in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.61.
Shares of Nokia stock traded down $0.02 during trading on Friday, hitting $5.39. The stock had a trading volume of 13,610,066 shares, compared to its average volume of 12,505,718. The firm has a market capitalization of $30,466.45, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.35 and a debt-to-equity ratio of 0.21. Nokia has a 12 month low of $4.51 and a 12 month high of $6.65.
Nokia (NYSE:NOK) last released its earnings results on Thursday, February 1st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.41 billion. Nokia had a negative net margin of 6.37% and a positive return on equity of 10.80%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $0.12 EPS. sell-side analysts predict that Nokia will post 0.31 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Monday, June 18th. Investors of record on Friday, June 1st will be paid a $0.2364 dividend. This represents a yield of 3.5%. The ex-dividend date is Thursday, May 31st. Nokia’s dividend payout ratio is presently 35.14%.
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Nokia Corporation, together with its subsidiaries, provides network infrastructure and related services worldwide. The company operates through three segments: Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. It offers mobile networking solutions, such as hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals; radio access network solutions; Internet protocol multimedia subsystem/voice over LTE, subscriber data management and other virtualized software infrastructure solutions; backhaul solutions; and network planning, implementation, operations, and maintenance solutions.
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