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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $6.29, moving -0.16% from the previous trading session. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Coming into today, shares of the technology company had gained 12.5% in the past month. In that same time, the Computer and Technology sector gained 2.85%, while the S&P 500 gained 4.32%.
Nokia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nokia to post earnings of $0.13 per share. This would mark a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $7.4 billion, down 5.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.40 per share and revenue of $25.75 billion, which would represent changes of +33.33% and +2.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Nokia should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.23% lower. Nokia currently has a Zacks Rank of #3 (Hold).
Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 15.95. This valuation marks a discount compared to its industry's average Forward P/E of 25.26.
Investors should also note that NOK has a PEG ratio of 1.53 right now. 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 was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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.
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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $6.29, moving -0.16% from the previous trading session. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Coming into today, shares of the technology company had gained 12.5% in the past month. In that same time, the Computer and Technology sector gained 2.85%, while the S&P 500 gained 4.32%.
Nokia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nokia to post earnings of $0.13 per share. This would mark a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $7.4 billion, down 5.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.40 per share and revenue of $25.75 billion, which would represent changes of +33.33% and +2.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Nokia should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.23% lower. Nokia currently has a Zacks Rank of #3 (Hold).
Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 15.95. This valuation marks a discount compared to its industry's average Forward P/E of 25.26.
Investors should also note that NOK has a PEG ratio of 1.53 right now. 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 was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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.