Nokia (NOK) closed at $4.91 in the latest trading session, marking a +0.41% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Coming into today, shares of the technology company had lost 1.61% in the past month. In that same time, the Computer and Technology sector gained 1.8%, while the S&P 500 gained 0.59%.
NOK will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2019. In that report, analysts expect NOK to post earnings of $0.07 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $6.31 billion, down 0.68% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.27 per share and revenue of $26.22 billion. These results would represent year-over-year changes of 0% and -1.36%, respectively.
It is also important to note the recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, NOK currently has a Forward P/E ratio of 18.28. This valuation marks a discount compared to its industry's average Forward P/E of 21.4.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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