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Nokia (NOK) Gains But Lags Market: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $6.02, moving +0.5% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the technology company had gained 4.9% over the past month, outpacing the Computer and Technology sector's loss of 1.81% and the S&P 500's loss of 0.21% in that time.
Nokia will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.13, down 23.53% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.4 billion, down 5.55% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.40 per share and revenue of $25.87 billion. These results would represent year-over-year changes of +33.33% and +3.27%, respectively.
Investors might also notice recent changes to analyst estimates for Nokia. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nokia is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 14.83 right now. This represents a discount compared to its industry's average Forward P/E of 23.62.
Meanwhile, NOK's PEG ratio is currently 1.42. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.77 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 161, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Nokia (NOK) Gains But Lags Market: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $6.02, moving +0.5% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the technology company had gained 4.9% over the past month, outpacing the Computer and Technology sector's loss of 1.81% and the S&P 500's loss of 0.21% in that time.
Nokia will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.13, down 23.53% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.4 billion, down 5.55% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.40 per share and revenue of $25.87 billion. These results would represent year-over-year changes of +33.33% and +3.27%, respectively.
Investors might also notice recent changes to analyst estimates for Nokia. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nokia is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 14.83 right now. This represents a discount compared to its industry's average Forward P/E of 23.62.
Meanwhile, NOK's PEG ratio is currently 1.42. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.77 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 161, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.