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Nokia (NOK) Stock Sinks As Market Gains: Here's Why
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Nokia (NOK - Free Report) closed at $3.53 in the latest trading session, marking a -0.84% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.52%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.9%.
Coming into today, shares of the technology company had lost 1.11% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.
Analysts and investors alike will be keeping a close eye on the performance of Nokia in its upcoming earnings disclosure. On that day, Nokia is projected to report earnings of $0.06 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.19 billion, down 17.38% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.38 per share and a revenue of $23.65 billion, representing changes of +22.58% and -1.73%, respectively, from the prior year.
Any recent changes to analyst estimates for Nokia should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. At present, Nokia boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 9.33. This signifies a discount in comparison to the average Forward P/E of 14.24 for its industry.
One should further note that NOK currently holds a PEG ratio of 0.99. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 184, finds itself in the bottom 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nokia (NOK) Stock Sinks As Market Gains: Here's Why
Nokia (NOK - Free Report) closed at $3.53 in the latest trading session, marking a -0.84% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.52%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.9%.
Coming into today, shares of the technology company had lost 1.11% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.
Analysts and investors alike will be keeping a close eye on the performance of Nokia in its upcoming earnings disclosure. On that day, Nokia is projected to report earnings of $0.06 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.19 billion, down 17.38% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.38 per share and a revenue of $23.65 billion, representing changes of +22.58% and -1.73%, respectively, from the prior year.
Any recent changes to analyst estimates for Nokia should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. At present, Nokia boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 9.33. This signifies a discount in comparison to the average Forward P/E of 14.24 for its industry.
One should further note that NOK currently holds a PEG ratio of 0.99. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 184, finds itself in the bottom 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.