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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $4.52, moving +1.35% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 1.7%, and the Nasdaq, a tech-heavy index, added 1.13%.
Investors will be hoping for strength from NOK as it approaches its next earnings release. On that day, NOK is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $5.63 billion, down 12.03% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $25.05 billion. These totals would mark changes of -4% and -3.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NOK. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.61% lower. NOK is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 18.39. For comparison, its industry has an average Forward P/E of 21.61, which means NOK is trading at a discount to the group.
Investors should also note that NOK has a PEG ratio of 1.38 right now. 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. The Wireless Equipment industry currently had an average PEG ratio of 2.28 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.
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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $4.52, moving +1.35% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 1.7%, and the Nasdaq, a tech-heavy index, added 1.13%.
Investors will be hoping for strength from NOK as it approaches its next earnings release. On that day, NOK is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $5.63 billion, down 12.03% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $25.05 billion. These totals would mark changes of -4% and -3.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NOK. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.61% lower. NOK is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 18.39. For comparison, its industry has an average Forward P/E of 21.61, which means NOK is trading at a discount to the group.
Investors should also note that NOK has a PEG ratio of 1.38 right now. 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. The Wireless Equipment industry currently had an average PEG ratio of 2.28 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.