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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know

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Nokia (NOK - Free Report) closed at $5.82 in the latest trading session, marking a -0.85% move from the prior day. This move lagged the S&P 500's daily gain of 0.72%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, added 0.71%.

Coming into today, shares of the technology company had lost 4.55% in the past month. In that same time, the Computer and Technology sector gained 2.41%, while the S&P 500 gained 0.28%.

Investors will be hoping for strength from NOK as it approaches its next earnings release. In that report, analysts expect NOK to post earnings of $0.03 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $6.13 billion, up 1.31% from the prior-year quarter.

NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.33 per share and revenue of $26.59 billion. These results would represent year-over-year changes of +22.22% and +0.06%, respectively.

Investors should also note any recent changes to analyst estimates for NOK. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NOK is holding a Zacks Rank of #4 (Sell) right now.

Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 17.97. For comparison, its industry has an average Forward P/E of 22.5, which means NOK is trading at a discount to the group.

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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