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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
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Nokia (NOK - Free Report) closed at $6.25 in the latest trading session, marking a -0.64% move from the prior day. This move lagged the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Prior to today's trading, shares of the technology company had gained 10.55% over the past month. This has outpaced the Computer and Technology sector's gain of 4.06% and the S&P 500's gain of 5.76% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be February 3, 2022. On that day, Nokia is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 23.53%. Meanwhile, our latest consensus estimate is calling for revenue of $7.4 billion, down 5.55% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.51% lower. Nokia is currently a Zacks Rank #3 (Hold).
Digging into valuation, Nokia currently has a Forward P/E ratio of 15.66. This represents a discount compared to its industry's average Forward P/E of 27.21.
It is also worth noting that NOK currently has a PEG ratio of 1.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless Equipment stocks are, on average, holding a PEG ratio of 2.04 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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.
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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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
Nokia (NOK - Free Report) closed at $6.25 in the latest trading session, marking a -0.64% move from the prior day. This move lagged the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Prior to today's trading, shares of the technology company had gained 10.55% over the past month. This has outpaced the Computer and Technology sector's gain of 4.06% and the S&P 500's gain of 5.76% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be February 3, 2022. On that day, Nokia is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 23.53%. Meanwhile, our latest consensus estimate is calling for revenue of $7.4 billion, down 5.55% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.51% lower. Nokia is currently a Zacks Rank #3 (Hold).
Digging into valuation, Nokia currently has a Forward P/E ratio of 15.66. This represents a discount compared to its industry's average Forward P/E of 27.21.
It is also worth noting that NOK currently has a PEG ratio of 1.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless Equipment stocks are, on average, holding a PEG ratio of 2.04 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.