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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nokia (NOK - Free Report) closed at $3.54, marking a -1.12% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the technology company had lost 5.79% over the past month. This has lagged the Computer and Technology sector's gain of 4.78% and the S&P 500's gain of 5.01% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nokia in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.22 billion, indicating a 16.95% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.38 per share and a revenue of $23.63 billion, demonstrating changes of +22.58% and -1.81%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 12.94% upward. Nokia currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.32. This indicates a discount in contrast to its industry's Forward P/E of 14.66.
Also, we should mention that NOK has a PEG ratio of 0.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.35.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nokia (NOK - Free Report) closed at $3.54, marking a -1.12% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the technology company had lost 5.79% over the past month. This has lagged the Computer and Technology sector's gain of 4.78% and the S&P 500's gain of 5.01% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nokia in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.22 billion, indicating a 16.95% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.38 per share and a revenue of $23.63 billion, demonstrating changes of +22.58% and -1.81%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 12.94% upward. Nokia currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.32. This indicates a discount in contrast to its industry's Forward P/E of 14.66.
Also, we should mention that NOK has a PEG ratio of 0.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.35.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.