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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $5.41, moving -1.99% from the previous trading session. This change lagged the S&P 500's 0.97% loss on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.49%.
Prior to today's trading, shares of the technology company had gained 17.2% over the past month. This has outpaced the Computer and Technology sector's gain of 6.06% and the S&P 500's gain of 4.71% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be April 28, 2022. On that day, Nokia is projected to report earnings of $0.07 per share, which would represent a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $5.92 billion, down 3.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.42 per share and revenue of $25.92 billion. These totals would mark changes of -4.55% and -1.13%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nokia. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.05% higher. Nokia is currently a Zacks Rank #3 (Hold).
Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 13.19. This valuation marks a discount compared to its industry's average Forward P/E of 21.17.
Investors should also note that NOK has a PEG ratio of 1.27 right now. 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 was holding an average PEG ratio of 2.18 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 190, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $5.41, moving -1.99% from the previous trading session. This change lagged the S&P 500's 0.97% loss on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.49%.
Prior to today's trading, shares of the technology company had gained 17.2% over the past month. This has outpaced the Computer and Technology sector's gain of 6.06% and the S&P 500's gain of 4.71% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be April 28, 2022. On that day, Nokia is projected to report earnings of $0.07 per share, which would represent a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $5.92 billion, down 3.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.42 per share and revenue of $25.92 billion. These totals would mark changes of -4.55% and -1.13%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nokia. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.05% higher. Nokia is currently a Zacks Rank #3 (Hold).
Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 13.19. This valuation marks a discount compared to its industry's average Forward P/E of 21.17.
Investors should also note that NOK has a PEG ratio of 1.27 right now. 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 was holding an average PEG ratio of 2.18 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 190, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.