In the latest trading session, Nokia (NOK) closed at $3.52, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the technology company had gained 5.93% in the past month. In that same time, the Computer and Technology sector gained 2.57%, while the S&P 500 gained 2.67%.
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 $0.14 per share. This would mark a year-over-year decline of 6.67%. Our most recent consensus estimate is calling for quarterly revenue of $7.67 billion, down 2.16% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.22 per share and revenue of $25.93 billion. These results would represent year-over-year changes of -18.52% and -2.44%, respectively.
Any recent changes to analyst estimates for NOK should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. NOK is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, NOK is holding a Forward P/E ratio of 16.23. Its industry sports an average Forward P/E of 21.59, so we one might conclude that NOK is trading at a discount comparatively.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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.
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