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

Nokia Oyj (NYSE:NOK - Get Free Report) declared a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Investors of record on Tuesday, October 22nd will be paid 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 a boost from Nokia Oyj's previous quarterly dividend of $0.03.

Nokia Oyj has a dividend 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 Trading Up 9.3 %

NYSE:NOK traded up $0.41 on Friday, reaching $4.75. 51,418,592 shares of the company's stock were exchanged, compared to its average volume of 15,482,190. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.78. 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 business has a fifty day moving average of $4.28 and a 200-day moving average of $3.93.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its earnings results 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 net margin of 1.95% and a return on equity of 7.98%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. As a group, analysts expect that Nokia Oyj will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NOK shares. Northland Securities reaffirmed an "outperform" rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday. StockNews.com upgraded Nokia Oyj from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.