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Nokia (NOK) Gains As Market Dips: What You Should Know
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Nokia (NOK - Free Report) closed at $4.17 in the latest trading session, marking a +0.48% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 1.39%, and the tech-heavy Nasdaq gained 0.53%.
Prior to today's trading, shares of the technology company had lost 6.74% over the past month. This has lagged the Computer and Technology sector's gain of 5.97% and the S&P 500's loss of 1.79% in that time.
NOK will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.63 billion, down 12.03% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.25 per share and revenue of $25.05 billion. These results would represent year-over-year changes of 0% and -3.95%, respectively.
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 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NOK currently has a Forward P/E ratio of 16.94. This represents a discount compared to its industry's average Forward P/E of 25.61.
Meanwhile, NOK's PEG ratio is currently 1.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.91 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 82, putting it in the top 33% 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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Nokia (NOK) Gains As Market Dips: What You Should Know
Nokia (NOK - Free Report) closed at $4.17 in the latest trading session, marking a +0.48% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 1.39%, and the tech-heavy Nasdaq gained 0.53%.
Prior to today's trading, shares of the technology company had lost 6.74% over the past month. This has lagged the Computer and Technology sector's gain of 5.97% and the S&P 500's loss of 1.79% in that time.
NOK will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.63 billion, down 12.03% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.25 per share and revenue of $25.05 billion. These results would represent year-over-year changes of 0% and -3.95%, respectively.
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 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NOK currently has a Forward P/E ratio of 16.94. This represents a discount compared to its industry's average Forward P/E of 25.61.
Meanwhile, NOK's PEG ratio is currently 1.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.91 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 82, putting it in the top 33% 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.