Nokia (NOK) closed the most recent trading day at $5.06, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the technology company had gained 0.8% over the past month, lagging the Computer and Technology sector's gain of 7.66% and the S&P 500's gain of 7.86% in that time.
NOK will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2019. The company is expected to report EPS of $0.01, down 75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.06 billion, down 4.43% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.24 per share and revenue of $25.95 billion. These results would represent year-over-year changes of -11.11% and -2.36%, respectively.
Investors might also notice 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. 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 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, NOK is holding a Forward P/E ratio of 21.18. This represents a discount compared to its industry's average Forward P/E of 24.92.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 23, putting it in the top 9% 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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