In the latest trading session, Nokia (NOK) closed at $3.59, marking a -0.28% move from the previous day. This move lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the technology company had gained 7.46% over the past month. This has outpaced the Computer and Technology sector's gain of 2.67% and the S&P 500's gain of 2.44% in that time.
NOK will be looking to display strength as it nears its next earnings release. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.67 billion, down 2.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.22 per share and revenue of $25.93 billion. These totals would mark changes of -18.52% and -2.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NOK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, NOK currently has a Forward P/E ratio of 16.36. This represents a discount compared to its industry's average Forward P/E of 21.33.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Nokia Corporation (NOK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research