Yahoo Finance Nokia (NOK) Outpaces Stock Market Gains: What You Should Know
Nokia (NOK) closed the most recent trading day at $4.05, moving +1% from the previous trading session. This change outpaced the S&P 500's 0.99% gain on the day.
Heading into today, shares of the technology company had lost 1.23% over the past month, lagging the Computer and Technology sector's gain of 8.96% and the S&P 500's gain of 0.42% in that time.
Investors will be hoping for strength from Nokia as it approaches its next earnings release. On that day, Nokia is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 27.27%. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 2.74% from the year-ago period.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.44 per share and revenue of $27.86 billion. These results would represent year-over-year changes of -4.35% and +6.5%, respectively.
Any recent changes to analyst estimates for Nokia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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 has moved 0.46% higher. Nokia is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 9.16. Its industry sports an average Forward P/E of 13.7, so we one might conclude that Nokia is trading at a discount comparatively.
Meanwhile, NOK's PEG ratio is currently 5.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless Equipment stocks are, on average, holding a PEG ratio of 2.28 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.
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Nokia Corporation (NOK) : Free Stock Analysis Report
