In the latest trading session, Nokia (NOK) closed at $4.95, marking a +0.61% move from the previous day. This move outpaced the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the technology company had lost 8.38% over the past month, lagging the Computer and Technology sector's loss of 4.41% and the S&P 500's loss of 2.95% in that time.
Investors will be hoping for strength from NOK as it approaches its next earnings release. On that day, NOK is projected to report earnings of $0.07 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $6.31 billion, down 0.68% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.27 per share and revenue of $26.22 billion. These totals would mark changes of 0% and -1.36%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for NOK. Recent revisions tend to reflect the latest 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.
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 remained stagnant. NOK is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NOK currently has a Forward P/E ratio of 18.39. For comparison, its industry has an average Forward P/E of 21.9, which means NOK is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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