In the latest trading session, Nokia (NOK - Free Report) closed at $4.13, marking a -0.72% move from the previous day. This change lagged the S&P 500's 0.46% loss on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 1.25%.
Coming into today, shares of the technology company had lost 18.27% in the past month. In that same time, the Computer and Technology sector gained 2.23%, while the S&P 500 gained 1%.
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 $0.07 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.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.28 per share and revenue of $25.61 billion. These results would represent year-over-year changes of +12% and -1.8%, respectively.
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. 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.21% higher. NOK currently has a Zacks Rank of #3 (Hold).
Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 14.96. This valuation marks a discount compared to its industry's average Forward P/E of 20.18.
Investors should also note that NOK has a PEG ratio of 0.96 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NOK's industry had an average PEG ratio of 1.82 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 178, putting it in the bottom 30% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.