In the latest trading session, Nokia (NOK) closed at $5.07, marking a -0.49% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.32%. Elsewhere, the Dow lost 1.41%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the technology company had lost 1.93% in the past month. In that same time, the Computer and Technology sector lost 7.09%, while the S&P 500 lost 5.09%.
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 $0.01 per share, which would represent a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for NOK should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, NOK is holding a Forward P/E ratio of 21.43. This represents a discount compared to its industry's average Forward P/E of 22.68.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% 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.
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