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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $5.25, moving +1.35% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Coming into today, shares of the technology company had gained 1.57% in the past month. In that same time, the Computer and Technology sector gained 2.22%, while the S&P 500 gained 4.63%.
Investors will be hoping for strength from Nokia as it approaches its next earnings release, which is expected to be April 28, 2022. The company is expected to report EPS of $0.07, down 12.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
It is also important to note the recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-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 #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 12.38. This valuation marks a discount compared to its industry's average Forward P/E of 20.39.
It is also worth noting that NOK currently has a PEG ratio of 1.19. 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 2.06 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 167, which puts it in the bottom 34% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.
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Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $5.25, moving +1.35% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Coming into today, shares of the technology company had gained 1.57% in the past month. In that same time, the Computer and Technology sector gained 2.22%, while the S&P 500 gained 4.63%.
Investors will be hoping for strength from Nokia as it approaches its next earnings release, which is expected to be April 28, 2022. The company is expected to report EPS of $0.07, down 12.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
It is also important to note the recent changes to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-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 #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 12.38. This valuation marks a discount compared to its industry's average Forward P/E of 20.39.
It is also worth noting that NOK currently has a PEG ratio of 1.19. 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 2.06 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 167, which puts it in the bottom 34% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.