In the latest trading session, Nokia (NOK) closed at $5.12, marking a +0.39% move from the previous day. This move outpaced the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.43%.
Coming into today, shares of the technology company had gained 2.62% in the past month. In that same time, the Computer and Technology sector gained 6.28%, while the S&P 500 gained 4.46%.
NOK will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2019. On that day, NOK is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $6.06 billion, down 4.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $25.95 billion, which would represent changes of -11.11% and -2.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 21.47 right now. Its industry sports an average Forward P/E of 25.15, so we one might conclude that NOK is trading at a discount comparatively.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nokia Corporation (NOK) : Free Stock Analysis Report
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