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Nokia (NOK) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Nokia (NOK - Free Report) ending at $3.25, denoting a -1.81% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Shares of the technology company witnessed a loss of 6.23% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.98% and the S&P 500's gain of 5.77%.
Market participants will be closely following the financial results of Nokia in its upcoming release. The company is forecasted to report an EPS of $0.15, showcasing a 6.25% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.85 billion, down 9.89% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.36 per share and a revenue of $24.56 billion, demonstrating changes of -21.74% and -6.09%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nokia. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.25% lower. At present, Nokia boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.19. This denotes a discount relative to the industry's average Forward P/E of 14.28.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Nokia (NOK - Free Report) ending at $3.25, denoting a -1.81% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Shares of the technology company witnessed a loss of 6.23% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.98% and the S&P 500's gain of 5.77%.
Market participants will be closely following the financial results of Nokia in its upcoming release. The company is forecasted to report an EPS of $0.15, showcasing a 6.25% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.85 billion, down 9.89% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.36 per share and a revenue of $24.56 billion, demonstrating changes of -21.74% and -6.09%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nokia. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.25% lower. At present, Nokia boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.19. This denotes a discount relative to the industry's average Forward P/E of 14.28.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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.