Nokia (NOK - Free Report) closed the most recent trading day at $4.07, moving +1.24% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.04%.
Prior to today's trading, shares of the technology company had gained 12.61% over the past month. This has outpaced the Computer and Technology sector's gain of 7.4% and the S&P 500's gain of 4.38% in that time.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. In that report, analysts expect NOK to post earnings of $0.14 per share. This would mark a year-over-year decline of 6.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.51 billion, down 4.15% from the year-ago period.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 2.33% lower. NOK is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 14.36 right now. This valuation marks a discount compared to its industry's average Forward P/E of 26.81.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 223, which puts it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.