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Nokia (NOK) Gains As Market Dips: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $4.02, moving +1.01% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the technology company had lost 1% over the past month. This has lagged the Computer and Technology sector's gain of 7.46% and the S&P 500's gain of 5.01% 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 July 20, 2023. In that report, analysts expect Nokia to post earnings of $0.08 per share. This would mark a year-over-year decline of 27.27%. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 2.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.44 per share and revenue of $27.86 billion. These totals would mark changes of -4.35% and +6.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nokia. Recent revisions tend to reflect the latest 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 remained stagnant. Nokia is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 9.09. This valuation marks a discount compared to its industry's average Forward P/E of 13.74.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
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Nokia (NOK) Gains As Market Dips: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $4.02, moving +1.01% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the technology company had lost 1% over the past month. This has lagged the Computer and Technology sector's gain of 7.46% and the S&P 500's gain of 5.01% 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 July 20, 2023. In that report, analysts expect Nokia to post earnings of $0.08 per share. This would mark a year-over-year decline of 27.27%. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 2.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.44 per share and revenue of $27.86 billion. These totals would mark changes of -4.35% and +6.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nokia. Recent revisions tend to reflect the latest 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 remained stagnant. Nokia is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 9.09. This valuation marks a discount compared to its industry's average Forward P/E of 13.74.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.