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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know

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Nokia (NOK) closed the most recent trading day at $4.76, moving +1.93% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.17%.

Coming into today, shares of the technology company had lost 7.34% in the past month. In that same time, the Computer and Technology sector lost 7.96%, while the S&P 500 lost 6.94%.

Investors will be hoping for strength from Nokia as it approaches its next earnings release. In that report, analysts expect Nokia to post earnings of $0.10 per share. This would mark a year-over-year decline of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $6.07 billion, down 5.12% from the year-ago period.

NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $25.27 billion. These results would represent year-over-year changes of -4.55% and -3.62%, respectively.

Investors should also note any recent changes to analyst estimates for Nokia. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Nokia is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Nokia currently has a Forward P/E ratio of 11.03. This represents a discount compared to its industry's average Forward P/E of 18.81.

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.

To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.


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