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Nokia (NOK) Advances But Underperforms Market: Key Facts
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In the latest market close, Nokia (NOK - Free Report) reached $3.49, with a +0.29% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.59% for the day. At the same time, the Dow added 0.82%, and the tech-heavy Nasdaq gained 0.55%.
The technology company's stock has climbed by 3.88% in the past month, falling short of the Computer and Technology sector's gain of 11.62% and the S&P 500's gain of 9.16%.
The investment community will be paying close attention to the earnings performance of Nokia in its upcoming release. It is anticipated that the company will report an EPS of $0.15, marking a 6.25% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.82 billion, down 10.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.35 per share and a revenue of $24.43 billion, demonstrating changes of -23.91% and -6.6%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Nokia. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.75% lower. Right now, Nokia possesses a Zacks Rank of #4 (Sell).
Digging into valuation, Nokia currently has a Forward P/E ratio of 9.85. This represents a discount compared to its industry's average Forward P/E of 14.19.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Advances But Underperforms Market: Key Facts
In the latest market close, Nokia (NOK - Free Report) reached $3.49, with a +0.29% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.59% for the day. At the same time, the Dow added 0.82%, and the tech-heavy Nasdaq gained 0.55%.
The technology company's stock has climbed by 3.88% in the past month, falling short of the Computer and Technology sector's gain of 11.62% and the S&P 500's gain of 9.16%.
The investment community will be paying close attention to the earnings performance of Nokia in its upcoming release. It is anticipated that the company will report an EPS of $0.15, marking a 6.25% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.82 billion, down 10.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.35 per share and a revenue of $24.43 billion, demonstrating changes of -23.91% and -6.6%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Nokia. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.75% lower. Right now, Nokia possesses a Zacks Rank of #4 (Sell).
Digging into valuation, Nokia currently has a Forward P/E ratio of 9.85. This represents a discount compared to its industry's average Forward P/E of 14.19.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.