Nokia (NOK) Dips More Than Broader Markets: What You Should Know
Nokia (NOK) closed at $4.70 in the latest trading session, marking a -4.28% move from the prior day. This change lagged the S&P 500's 0.67% loss on the day.
The company is expected to report EPS of $0.05, down 28.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.21 billion, up 10.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $26.08 billion, which would represent changes of -10% and +4.11%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NOK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 17.24% higher. NOK is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that NOK has a Forward P/E ratio of 18.05 right now. This represents a discount compared to its industry's average Forward P/E of 20.06.
Meanwhile, NOK's PEG ratio is currently 12.11. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 2.23 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 125, putting it in the top 50% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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