Nokia (NOK) closed the most recent trading day at $3.62, making no change from the previous trading session. This move traded in line with S&P 500. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the technology company had gained 4.62% over the past month, outpacing the Computer and Technology sector's gain of 4.19% and the S&P 500's gain of 3.37% in that time.
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%. Meanwhile, our latest consensus estimate is calling for revenue of $7.67 billion, down 2.16% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.22 per share and revenue of $25.93 billion, which would represent changes of -18.52% and -2.44%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NOK. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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).
Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 16.45 right now. For comparison, its industry has an average Forward P/E of 21.43, which means NOK is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 43, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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