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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 $4.30, moving +1.9% from the previous trading session. This change outpaced the S&P 500's 0.65% gain on the day. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 1.05%.

Coming into today, shares of the technology company had gained 2.93% in the past month. In that same time, the Computer and Technology sector lost 6.78%, while the S&P 500 gained 0.36%.

Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. In that report, analysts expect NOK to post earnings of $0.01 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $5.87 billion, up 8.26% from the year-ago period.

NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.23 per share and revenue of $25.97 billion. These results would represent year-over-year changes of -23.33% and +3.7%, respectively.

Any recent changes to analyst estimates for NOK should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 18.67 right now. This represents a discount compared to its industry's average Forward P/E of 20.76.

Also, we should mention that NOK has a PEG ratio of 12.53. 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 1.76 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 103, which puts it in the top 41% 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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