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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Nokia (NOK - Free Report) closed at $5.37, marking a +0.56% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the technology company had lost 0.93% in the past month. In that same time, the Computer and Technology sector gained 4.34%, while the S&P 500 gained 5.51%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.92 billion, down 3.24% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $25.92 billion. These results would represent year-over-year changes of -4.55% and -1.13%, respectively.
Investors should also note any recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. 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 12.77 right now. For comparison, its industry has an average Forward P/E of 23.43, which means Nokia is trading at a discount to the group.
We can also see that NOK currently has a PEG ratio of 1.23. 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. The Wireless Equipment industry currently had an average PEG ratio of 2.19 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 113, which puts it in the top 45% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Nokia (NOK - Free Report) closed at $5.37, marking a +0.56% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the technology company had lost 0.93% in the past month. In that same time, the Computer and Technology sector gained 4.34%, while the S&P 500 gained 5.51%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.92 billion, down 3.24% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $25.92 billion. These results would represent year-over-year changes of -4.55% and -1.13%, respectively.
Investors should also note any recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. 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 12.77 right now. For comparison, its industry has an average Forward P/E of 23.43, which means Nokia is trading at a discount to the group.
We can also see that NOK currently has a PEG ratio of 1.23. 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. The Wireless Equipment industry currently had an average PEG ratio of 2.19 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 113, which puts it in the top 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.