Nokia (NOK) closed the most recent trading day at $4.05, moving -0.98% from the previous trading session. This change lagged the S&P 500's 0.11% gain on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the technology company had gained 12.67% over the past month. This has outpaced the Computer and Technology sector's gain of 6.56% and the S&P 500's gain of 3.25% 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 $0.14, down 6.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.51 billion, down 4.15% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 2.33% lower. NOK is currently a Zacks Rank #4 (Sell).
Digging into valuation, NOK currently has a Forward P/E ratio of 14.61. This represents a discount compared to its industry's average Forward P/E of 26.97.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nokia Corporation (NOK) : Free Stock Analysis Report
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