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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 $5.32, moving +1.14% from the previous trading session. This move lagged the S&P 500's daily gain of 1.24%. At the same time, the Dow added 1.23%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the technology company had lost 9.93% over the past month, lagging the Computer and Technology sector's loss of 5.9% and the S&P 500's loss of 2.45% in that time.
Nokia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nokia to post earnings of $0.07 per share. This would mark a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, down 1.95% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $26.14 billion. These results would represent year-over-year changes of -4.55% and -0.3%, respectively.
Investors should also note any recent changes to analyst estimates for Nokia. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.48% higher. Nokia is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 12.64 right now. For comparison, its industry has an average Forward P/E of 23, which means Nokia is trading at a discount to the group.
We can also see that NOK currently has a PEG ratio of 1.21. 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 2.12 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 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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 $5.32, moving +1.14% from the previous trading session. This move lagged the S&P 500's daily gain of 1.24%. At the same time, the Dow added 1.23%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the technology company had lost 9.93% over the past month, lagging the Computer and Technology sector's loss of 5.9% and the S&P 500's loss of 2.45% in that time.
Nokia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nokia to post earnings of $0.07 per share. This would mark a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, down 1.95% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $26.14 billion. These results would represent year-over-year changes of -4.55% and -0.3%, respectively.
Investors should also note any recent changes to analyst estimates for Nokia. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.48% higher. Nokia is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 12.64 right now. For comparison, its industry has an average Forward P/E of 23, which means Nokia is trading at a discount to the group.
We can also see that NOK currently has a PEG ratio of 1.21. 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 2.12 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 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.