In the latest trading session, Nokia (NOK) closed at $4.28, marking a +1.9% move from the previous day. This move outpaced the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 1.43%.
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 $0.03 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $5.63 billion, down 12.03% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.24 per share and revenue of $25.05 billion. These results would represent year-over-year changes of -4% and -3.95%, respectively.
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. 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.
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 has moved 0.61% lower. NOK is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, NOK is holding a Forward P/E ratio of 17.32. This valuation marks a discount compared to its industry's average Forward P/E of 20.58.
Meanwhile, NOK's PEG ratio is currently 1.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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