Nokia Oyj (NYSE:NOK) to Issue Quarterly Dividend of $0.03

Nokia Oyj (NYSE:NOK) announced a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Investors 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 yield of 2.73%. The ex-dividend date is Tuesday, October 22nd. This is an increase 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

Nokia Oyj stock opened at $4.75 on Friday. The company’s 50-day moving average price is $4.28 and its 200-day moving average price is $3.93. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The company has a market cap of $26.21 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.78.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping 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 company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. On average, equities research analysts forecast that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOK has been the topic of several analyst reports. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. Finally, StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.