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Nokia (NOK) Exceeds Market Returns: Some Facts to Consider
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Nokia (NOK - Free Report) ended the recent trading session at $3.52, demonstrating a +0.57% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
The the stock of technology company has risen by 3.86% in the past month, leading the Computer and Technology sector's gain of 2.68% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Nokia in its upcoming release. The company plans to announce its earnings on January 25, 2024. The company is expected to report EPS of $0.14, down 12.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.75 billion, down 11.21% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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. The Zacks Consensus EPS estimate has moved 2.38% lower within the past month. Nokia is currently sporting a Zacks Rank of #4 (Sell).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 10.24. This expresses a discount compared to the average Forward P/E of 14.24 of its industry.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
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.
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) Exceeds Market Returns: Some Facts to Consider
Nokia (NOK - Free Report) ended the recent trading session at $3.52, demonstrating a +0.57% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
The the stock of technology company has risen by 3.86% in the past month, leading the Computer and Technology sector's gain of 2.68% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Nokia in its upcoming release. The company plans to announce its earnings on January 25, 2024. The company is expected to report EPS of $0.14, down 12.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.75 billion, down 11.21% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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. The Zacks Consensus EPS estimate has moved 2.38% lower within the past month. Nokia is currently sporting a Zacks Rank of #4 (Sell).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 10.24. This expresses a discount compared to the average Forward P/E of 14.24 of its industry.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.