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Nokia (NOK) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Nokia (NOK) closed at $5.57, marking a +1.46% move from the previous day. This change outpaced the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.

Heading into today, shares of the technology company had lost 13.41% over the past month, lagging the Computer and Technology sector's loss of 11.78% and the S&P 500's loss of 6.58% in that time.

Nokia will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. On that day, Nokia is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 29.41%. Our most recent consensus estimate is calling for quarterly revenue of $7.4 billion, down 5.55% from the year-ago period.

Any recent changes to analyst estimates for Nokia should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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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.

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 0.41% lower. Nokia currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, Nokia is holding a Forward P/E ratio of 13.73. This valuation marks a discount compared to its industry's average Forward P/E of 24.37.

Investors should also note that NOK has a PEG ratio of 1.32 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NOK's industry had an average PEG ratio of 1.88 as of yesterday's close.

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 36% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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