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Why the Market Dipped But Nokia (NOK) Gained Today
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The latest trading session saw Nokia (NOK - Free Report) ending at $3.67, denoting a +0.27% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Heading into today, shares of the technology company had gained 4.87% over the past month, outpacing the Computer and Technology sector's gain of 2.36% and the S&P 500's gain of 3.18% in that time.
Investors will be eagerly watching for the performance of Nokia in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.06, reflecting no change from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.19 billion, showing a 17.38% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.38 per share and revenue of $23.65 billion, indicating changes of +22.58% and -1.73%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Nokia boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.59. This denotes a discount relative to the industry's average Forward P/E of 15.
Meanwhile, NOK's PEG ratio is currently 1.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 1.46.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 183, finds itself in the bottom 28% echelons 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.
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Why the Market Dipped But Nokia (NOK) Gained Today
The latest trading session saw Nokia (NOK - Free Report) ending at $3.67, denoting a +0.27% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Heading into today, shares of the technology company had gained 4.87% over the past month, outpacing the Computer and Technology sector's gain of 2.36% and the S&P 500's gain of 3.18% in that time.
Investors will be eagerly watching for the performance of Nokia in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.06, reflecting no change from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.19 billion, showing a 17.38% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.38 per share and revenue of $23.65 billion, indicating changes of +22.58% and -1.73%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nokia. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Nokia boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Nokia is at present trading with a Forward P/E ratio of 9.59. This denotes a discount relative to the industry's average Forward P/E of 15.
Meanwhile, NOK's PEG ratio is currently 1.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 1.46.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 183, finds itself in the bottom 28% echelons 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.