Nokia
This telecommunications company once ruled the cell phone arena, until the advent of the smartphone in 2007, but has reemerged as a top meme stock. Nokia Corp. (NYSE: NOK) owns two main businesses: 1) Nokia Networks, a network infrastructure equipment supplier to global wireless and wireline operators, and 2) Technologies, its patent/IPR licensing activities.
In a positive sign for investors, earlier this year, the company resumed its quarterly dividend and initiated a share buyback program. The company reported solid second-quarter comparable operating earnings and revenues that came in above market estimates as the telecom equipment maker kept costs in check. Nokia also has forecast annual revenue that was largely ahead of projections and set a long-term target for operating margins of at least 14%, replacing its earlier 2023 target of between 11% and 13%.
Nokia stock investors receive a 1.68% dividend. Raymond James has a $7 target price. The consensus target is $6.84, and shares traded on Friday at $4.85.
Rithm Capital
While well off the proverbial radar screen, this stock may have the largest total return potential of them all. Rithm Capital Corp. (NYSE: RITM) provides capital and services to the real estate and financial services industries in the United States. Its investment portfolio includes mortgage-servicing-related assets, residential securities and loans and consumer loans. It qualifies as a real estate investment trust (REIT) for federal income tax purposes.
The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as New Residential Investment and changed its name in August 2022. Back in December, the company authorized a new stock repurchase program of up to $200 million of the common stock and $100 million of the preferred stock.
Investors receive a 10.44% dividend. The B. Ruler target price of $12 compares with an $11.36 consensus target and a Friday share price of $9.45.
Telefonica
Being the largest telecommunications company in Spain makes this a great idea for conservative growth and income investors. Telefonica S.A. (NYSE: TEF) provides telecommunications services in Europe and Latin America.
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