In the latest trading session, Nokia (NOK – Free Report) closed at $3.48, marking no change from the previous day. This move lagged the S&P 500’s daily gain of 0.91%. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 1%.
Heading into today, shares of the technology company had lost 2.52% over the past month, lagging the Computer and Technology sector’s gain of 1.41% and the S&P 500’s gain of 1.65% in that time.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. On that day, NOK is projected to report earnings of $0.14 per share, which would represent a year-over-year decline of 6.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.67 billion, down 2.16% from the year-ago period.
NOK’s full-year Zacks Consensus Estimates are calling for earnings of $0.22 per share and revenue of $25.93 billion. These results would represent year-over-year changes of -18.52% and -2.44%, respectively.
Any recent changes to analyst estimates for NOK 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, NOK is holding a Forward P/E ratio of 15.82. This represents a discount compared to its industry’s average Forward P/E of 20.77.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 23% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.