Nokia (NOK - Free Report) closed the most recent trading day at $5.10, moving -1.54% from the previous trading session. This change lagged the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 1.47%.
Prior to today's trading, shares of the technology company had gained 3.6% over the past month. This has lagged the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from NOK as it approaches its next earnings release. The company is expected to report EPS of $0.07, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.31 billion, down 0.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $26.22 billion, which would represent changes of 0% and -1.36%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, NOK is currently trading at a Forward P/E ratio of 19.36. This valuation marks a discount compared to its industry's average Forward P/E of 22.01.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.