Nokia (NOK - Free Report) closed the most recent trading day at $6.22, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.09%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.16%.
Heading into today, shares of the technology company had lost 2.85% over the past month, lagging the Computer and Technology sector's gain of 4.21% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from NOK as it approaches its next earnings release. On that day, NOK is projected to report earnings of $0.03 per share, which would represent year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.13 billion, up 1.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.33 per share and revenue of $26.59 billion, which would represent changes of +22.22% and +0.06%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NOK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 18.8 right now. Its industry sports an average Forward P/E of 24.1, so we one might conclude that NOK is trading at a discount comparatively.
Investors should also note that NOK has a PEG ratio of 1.87 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless Equipment was holding an average PEG ratio of 2.2 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.