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Nokia (NOK) Dips More Than Broader Markets: What You Should Know

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Nokia (NOK) closed at $6.06 in the latest trading session, marking a -1.14% move from the prior day. This change lagged the S&P 500's daily loss of 0.87%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.43%.

Coming into today, shares of the technology company had gained 7.92% in the past month. In that same time, the Computer and Technology sector lost 1.23%, while the S&P 500 gained 0.7%.

Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. In that report, analysts expect Nokia to post earnings of $0.13 per share. This would mark a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $7.4 billion, down 5.55% from the year-ago period.

NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.40 per share and revenue of $25.87 billion. These results would represent year-over-year changes of +33.33% and +3.27%, respectively.

Any recent changes to analyst estimates for Nokia should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nokia is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 15.17. For comparison, its industry has an average Forward P/E of 24.46, which means Nokia is trading at a discount to the group.

Also, we should mention that NOK has a PEG ratio of 1.46. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.84 as of yesterday's close.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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