Nokia (NOK) Gains As Market Dips: What You Should Know
Nokia (NOK) closed the most recent trading day at $3.93, moving +0.77% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq lost 0.38%.
Coming into today, shares of the technology company had lost 3.23% in the past month. In that same time, the Computer and Technology sector gained 5.2%, while the S&P 500 gained 2.78%.
Investors will be hoping for strength from NOK as it approaches its next earnings release. In that report, analysts expect NOK to post earnings of $0.12 per share. This would mark a year-over-year decline of 29.41%. Meanwhile, our latest consensus estimate is calling for revenue of $7.56 billion, down 1.18% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.26 per share and revenue of $25.07 billion. These results would represent year-over-year changes of +4% and -3.9%, respectively.
Investors might also notice recent changes to analyst estimates for NOK. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK currently has a Zacks Rank of #4 (Sell).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 15.23. For comparison, its industry has an average Forward P/E of 21.75, which means NOK is trading at a discount to the group.
Investors should also note that NOK has a PEG ratio of 10.22 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NOK's industry had an average PEG ratio of 2.47 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% 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.
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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