Nokia (NOK - Free Report) closed the most recent trading day at $5.96, moving +0.68% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.11%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.19%.
Coming into today, shares of the technology company had lost 1.82% in the past month. In that same time, the Computer and Technology sector gained 5.46%, while the S&P 500 gained 3.84%.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. This is expected to be April 25, 2019. The company is expected to report EPS of $0.03, up 50% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.77 billion, down 4.61% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.31 per share and revenue of $26.27 billion. These results would represent year-over-year changes of +14.81% and -1.16%, respectively.
It is also important to note the recent changes to analyst estimates for NOK. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 is currently a Zacks Rank #3 (Hold).
Digging into valuation, NOK currently has a Forward P/E ratio of 18.89. This represents a discount compared to its industry's average Forward P/E of 24.23.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.