Nokia (NOK) closed at $5.04 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.78%.
Heading into today, shares of the technology company had gained 0.8% over the past month, lagging the Computer and Technology sector's gain of 8% and the S&P 500's gain of 5.97% in that time.
NOK will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2019. On that day, NOK is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $6.06 billion, down 4.43% from the prior-year quarter.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. NOK currently has a Zacks Rank of #3 (Hold).
Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 21.31. This represents a discount compared to its industry's average Forward P/E of 24.58.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 11% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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