Back to top

Image: Bigstock

Nokia (NOK) Stock Moves -0.59%: What You Should Know

Read MoreHide Full Article

Nokia (NOK - Free Report) ended the recent trading session at $3.39, demonstrating a -0.59% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.

The technology company's stock has climbed by 13.67% in the past month, exceeding the Computer and Technology sector's gain of 2.11% and the S&P 500's gain of 3.4%.

The investment community will be closely monitoring the performance of Nokia in its forthcoming earnings report. The company is scheduled to release its earnings on January 25, 2024. In that report, analysts expect Nokia to post earnings of $0.15 per share. This would mark a year-over-year decline of 6.25%. Simultaneously, our latest consensus estimate expects the revenue to be $6.85 billion, showing a 9.89% drop compared to the year-ago quarter.

Investors should also take note of any recent adjustments to analyst estimates for Nokia. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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. Within the past 30 days, our consensus EPS projection has moved 13.79% lower. Nokia is currently a Zacks Rank #4 (Sell).

From a valuation perspective, Nokia is currently exchanging hands at a Forward P/E ratio of 10.23. This expresses a discount compared to the average Forward P/E of 13.01 of its industry.

The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Nokia Corporation (NOK) - free report >>

Published in