Nokia (NOK) closed the most recent trading day at $3.96, moving +0.51% from the previous trading session. This change outpaced the S&P 500's 0.28% loss on the day. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the technology company had gained 15.2% in the past month. In that same time, the Computer and Technology sector gained 5.05%, while the S&P 500 gained 3.31%.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. In that report, analysts expect NOK to post earnings of $0.14 per share. This would mark a year-over-year decline of 6.67%. Meanwhile, our latest consensus estimate is calling for revenue of $7.67 billion, down 2.16% from the prior-year quarter.
Any recent changes to analyst estimates for NOK should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 2.33% lower. NOK is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, NOK is holding a Forward P/E ratio of 14.07. This represents a discount compared to its industry's average Forward P/E of 26.92.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nokia Corporation (NOK) : Free Stock Analysis Report
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