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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nokia (NOK - Free Report) closed at $5.36, marking a -0.74% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%.
Heading into today, shares of the technology company had gained 4.65% over the past month, lagging the Computer and Technology sector's gain of 6.22% and outpacing the S&P 500's gain of 2.12% in that time.
NOK will be looking to display strength as it nears its next earnings release. On that day, NOK is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $6.32 billion, up 12.81% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.29 per share and revenue of $25.84 billion. These results would represent year-over-year changes of -3.33% and +3.16%, 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 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, NOK is holding a Forward P/E ratio of 18.37. Its industry sports an average Forward P/E of 18.37, so we one might conclude that NOK is trading at a no noticeable deviation comparatively.
It is also worth noting that NOK currently has a PEG ratio of 12.33. 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 2.71 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 191, putting it in the bottom 25% 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.
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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nokia (NOK - Free Report) closed at $5.36, marking a -0.74% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%.
Heading into today, shares of the technology company had gained 4.65% over the past month, lagging the Computer and Technology sector's gain of 6.22% and outpacing the S&P 500's gain of 2.12% in that time.
NOK will be looking to display strength as it nears its next earnings release. On that day, NOK is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $6.32 billion, up 12.81% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.29 per share and revenue of $25.84 billion. These results would represent year-over-year changes of -3.33% and +3.16%, 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 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, NOK is holding a Forward P/E ratio of 18.37. Its industry sports an average Forward P/E of 18.37, so we one might conclude that NOK is trading at a no noticeable deviation comparatively.
It is also worth noting that NOK currently has a PEG ratio of 12.33. 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 2.71 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 191, putting it in the bottom 25% 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.