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

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In the latest trading session, Nokia (NOK - Free Report) closed at $5.02, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.53%.

Prior to today's trading, shares of the technology company had gained 1.41% over the past month. This has outpaced the Computer and Technology sector's loss of 8.25% and the S&P 500's loss of 3.77% 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 $0.01 per share, which would represent a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $6.06 billion, down 4.43% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $25.95 billion, which would represent changes of -11.11% and -2.36%, respectively, from the prior year.

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. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 21.26. Its industry sports an average Forward P/E of 24.01, so we one might conclude that NOK is trading at a discount comparatively.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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