Nokia (NOK - Free Report) closed at $4.10 in the latest trading session, marking a -0.97% move from the prior day. This change was narrower than the S&P 500's 1.76% loss on the day. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 1.99%.
Heading into today, shares of the technology company had lost 18.02% over the past month, lagging the Computer and Technology sector's gain of 1.8% and the S&P 500's gain of 1.56% in that time.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. On that day, NOK is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.41 billion, up 1.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.28 per share and revenue of $25.61 billion. These totals would mark changes of +12% and -1.8%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.21% higher. NOK currently has a Zacks Rank of #3 (Hold).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 14.89. This represents a discount compared to its industry's average Forward P/E of 19.25.
We can also see that NOK currently has a PEG ratio of 0.95. 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 1.88 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 128, which puts it in the top 50% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.