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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
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Nokia (NOK - Free Report) closed the most recent trading day at $4.04, moving -0.74% from the previous trading session. This change lagged the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the technology company had gained 3.04% over the past month. This has outpaced the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% 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 $0.09 per share. This would mark a year-over-year decline of 10%. Our most recent consensus estimate is calling for quarterly revenue of $6.36 billion, up 1.16% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $26.41 billion. These results would represent year-over-year changes of -8.7% and +0.98%, 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nokia is holding a Forward P/E ratio of 9.77. This represents a discount compared to its industry's average Forward P/E of 12.88.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
Nokia (NOK - Free Report) closed the most recent trading day at $4.04, moving -0.74% from the previous trading session. This change lagged the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the technology company had gained 3.04% over the past month. This has outpaced the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% 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 $0.09 per share. This would mark a year-over-year decline of 10%. Our most recent consensus estimate is calling for quarterly revenue of $6.36 billion, up 1.16% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.42 per share and revenue of $26.41 billion. These results would represent year-over-year changes of -8.7% and +0.98%, 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Nokia is holding a Forward P/E ratio of 9.77. This represents a discount compared to its industry's average Forward P/E of 12.88.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.