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Nokia (NOK) Rises But Trails Market: What Investors Should Know

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The most recent trading session ended with Nokia (NOK - Free Report) standing at $3.47, reflecting a +0.58% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.88%. Elsewhere, the Dow saw an upswing of 0.54%, while the tech-heavy Nasdaq appreciated by 1.35%.

Shares of the technology company have appreciated by 6.15% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.72% and the S&P 500's gain of 0.64%.

Analysts and investors alike will be keeping a close eye on the performance of Nokia in its upcoming earnings disclosure. The company's earnings report is set to go public on January 25, 2024. The company is predicted to post an EPS of $0.14, indicating a 12.5% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.66 billion, indicating a 12.42% downward movement from the same quarter last year.

Investors should also pay attention to any latest changes in analyst estimates for Nokia. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2% higher. As of now, Nokia holds a Zacks Rank of #4 (Sell).

Digging into valuation, Nokia currently has a Forward P/E ratio of 10.15. For comparison, its industry has an average Forward P/E of 14.09, which means Nokia is trading at a discount to the group.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


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