Nokia (NOK) closed at $3.95 in the latest trading session, marking a +1.28% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.48%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq lost 0.29%.
Prior to today's trading, shares of the technology company had lost 20.41% over the past month. This has lagged the Computer and Technology sector's loss of 5.56% and the S&P 500's loss of 4.3% in that time.
NOK will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.07, up 16.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.41 billion, up 1.44% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.28 per share and revenue of $25.61 billion. These results would represent year-over-year changes of +12% and -1.8%, respectively.
Investors should also note any recent changes to analyst estimates for NOK. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 2.21% higher. NOK is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 14.03. This represents a discount compared to its industry's average Forward P/E of 20.02.
Meanwhile, NOK's PEG ratio is currently 0.9. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.78 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 203, putting it in the bottom 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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