Nokia (HE:NOKIA) (NOK) closed the most recent trading day at $2.65, moving -0.38% from the previous trading session. This change was narrower than the S&P 500's 2.93% loss on the day. Elsewhere, the Dow lost 3.04%, while the tech-heavy Nasdaq lost 0.27%.
Prior to today's trading, shares of the technology company had lost 36.06% over the past month. This has lagged the Computer and Technology sector's loss of 29.2% and the S&P 500's loss of 31.71% in that time.
NOK will be looking to display strength as it nears its next earnings release. On that day, NOK is projected to report earnings of $0.01 per share, which would represent year-over-year growth of 150%. Our most recent consensus estimate is calling for quarterly revenue of $5.77 billion, up 1.03% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.26 per share and revenue of $26.08 billion. These totals would mark changes of +4% and -0.02%, respectively, from last year.
Any recent changes to analyst estimates for NOK 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.85% lower. NOK currently has a Zacks Rank of #3 (Hold).
Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 10.15. This valuation marks a discount compared to its industry's average Forward P/E of 15.14.
It is also worth noting that NOK currently has a PEG ratio of 0.54. 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 1.24 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 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow NOK in the coming trading sessions, be sure to utilize Zacks.com.
Nokia Corporation (NOK): Free Stock Analysis Report
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