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Nokia (NOK) closed at $5.58 in the latest trading session, marking a +0.36% move from the prior day. This change lagged the S&P 500's 1.21% gain on the day.
Heading into today, shares of the technology company had lost 7.79% over the past month, lagging the Computer and Technology sector's gain of 1.28% and the S&P 500's loss of 0.9% in that time.
NOK will be looking to display strength as it nears its next earnings release. In that report, analysts expect NOK to post earnings of $0.08 per share. This would mark year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $6.06 billion, down 2.14% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $26.18 billion. These totals would mark changes of +26.67% and +4.53%, respectively, from last year.
It is also important to note the 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.
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 remained stagnant. NOK is currently a Zacks Rank #2 (Buy).
Digging into valuation, NOK currently has a Forward P/E ratio of 14.71. This represents a discount compared to its industry's average Forward P/E of 21.37.
Meanwhile, NOK's PEG ratio is currently 9.87. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Wireless Equipment was holding an average PEG ratio of 4.01 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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.
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