In the latest trading session, Nokia (NOK - Free Report) closed at $4.48, marking a -1.1% move from the previous day. This move lagged the S&P 500's daily loss of 0.81%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 1.27%.
Coming into today, shares of the technology company had lost 9.4% in the past month. In that same time, the Computer and Technology sector lost 1.87%, while the S&P 500 gained 5.06%.
NOK will be looking to display strength as it nears its next earnings release. In that report, analysts expect NOK to post earnings of $0.07 per share. This would mark year-over-year growth of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.28 billion, down 0.59% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $25.38 billion, which would represent changes of +8% and -2.71%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 currently has a Zacks Rank of #2 (Buy).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 16.65. This represents a discount compared to its industry's average Forward P/E of 19.78.
We can also see that NOK currently has a PEG ratio of 1.07. 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. NOK's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.