Nokia (NOK) closed at $5 in the latest trading session, marking a -0.89% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 1.51%.
Prior to today's trading, shares of the technology company had lost 1.56% over the past month. This has lagged the Computer and Technology sector's gain of 4.37% and the S&P 500's gain of 4.32% in that time.
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 $0.01 per share. This would mark a year-over-year decline of 75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.06 billion, down 4.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $25.95 billion, which would represent changes of -11.11% and -2.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NOK. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NOK is currently a Zacks Rank #4 (Sell).
Digging into valuation, NOK currently has a Forward P/E ratio of 21.22. This represents a discount compared to its industry's average Forward P/E of 25.02.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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