Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
Nokia (NOK) closed the most recent trading day at $5.84, moving -0.68% from the previous trading session. This change lagged the S&P 500's daily gain of 0.12%.
Coming into today, shares of the technology company had gained 11.15% in the past month. In that same time, the Computer and Technology sector gained 4.26%, while the S&P 500 gained 3%.
NOK will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.06, down 14.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.32 billion, up 12.81% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.32 per share and revenue of $25.84 billion. These results would represent year-over-year changes of +6.67% and +3.16%, respectively.
Investors might also notice recent changes to analyst estimates for NOK. 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. 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 7.99% higher. NOK is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, NOK is holding a Forward P/E ratio of 18.52. Its industry sports an average Forward P/E of 21.5, so we one might conclude that NOK is trading at a discount comparatively.
We can also see that NOK currently has a PEG ratio of 12.43. 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 industry currently had an average PEG ratio of 2.36 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% 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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