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Nokia (NOK) Dips More Than Broader Market: What You Should Know
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The most recent trading session ended with Nokia (NOK - Free Report) standing at $3.50, reflecting a -1.13% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Heading into today, shares of the technology company had lost 0.56% over the past month, lagging the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32% 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's earnings report is set to go public on April 18, 2024. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.19 billion, down 17.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $23.65 billion. These totals would mark changes of +22.58% and -1.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nokia. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 9.28. For comparison, its industry has an average Forward P/E of 14.94, which means Nokia is trading at a discount to the group.
It's also important to note that NOK currently trades at a PEG ratio of 0.98. 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. As of the close of trade yesterday, the Wireless Equipment industry held an average PEG ratio of 1.43.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nokia (NOK) Dips More Than Broader Market: What You Should Know
The most recent trading session ended with Nokia (NOK - Free Report) standing at $3.50, reflecting a -1.13% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Heading into today, shares of the technology company had lost 0.56% over the past month, lagging the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32% 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's earnings report is set to go public on April 18, 2024. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.19 billion, down 17.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $23.65 billion. These totals would mark changes of +22.58% and -1.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nokia. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Nokia is presently trading at a Forward P/E ratio of 9.28. For comparison, its industry has an average Forward P/E of 14.94, which means Nokia is trading at a discount to the group.
It's also important to note that NOK currently trades at a PEG ratio of 0.98. 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. As of the close of trade yesterday, the Wireless Equipment industry held an average PEG ratio of 1.43.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.