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Nokia (NOK) closed at $ 3.88 in the last trading session, marking a movement of + 1.57% from the previous day. The stock trailed the S&P 500’s daily gain of 1.95%. Meanwhile, the Dow Jones gained 1.85% and the Nasdaq, a very technological index, added 1.55%.
Prior to today’s trading, shares of the tech company had lost 12.59% in the past month. This was delayed by the loss of the computer and technology sector of 6.69% and the loss of the S&P 500 of 2.45% during this period.
Wall Street will look for NOK’s positivity as the date of its next earnings report approaches. The company is expected to post EPS of $ 0.01, unchanged from the previous year’s quarter. Meanwhile, Zacks’ consensus estimate for revenue projects net sales of $ 5.87 billion, up 8.26% from the previous year.
Looking at the full year, our Zacks consensus estimates suggest that analysts expect earnings of $ 0.23 per share and revenue of $ 25.97 billion. These totals would mark changes of -23.33% and + 3.7%, respectively, from last year.
It’s also important to note the recent changes to analyst estimates for NOK. Recent revisions tend to reflect the latest short-term business trends. As such, the positive estimate revisions reflect analysts’ optimism about the business and profitability of the company.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. Investors can take advantage of this by using the Zacks rank. This model takes into account these changes in estimate and provides a simple and workable scoring system.
The Zacks ranking system ranges from # 1 (strong buy) to # 5 (strong sell). It has a remarkable, unaudited track record of success with # 1 stocks delivering an average annual return of + 25% since 1988. Over the past month, Zacks Consensus’s EPS estimate has risen by 3.67% . NOK currently holds a Zacks rank of # 3 (Hold).
Looking at its valuation, NOK maintains a forward P / E ratio of 16.9. This valuation marks a discount compared to the average term P / E of its industry of 20.28.
Additionally, we have to mention that NOK has a PEG ratio of 11.34. The PEG ratio is similar to the widely used P / E ratio, but this metric also takes into account the expected growth rate of the company’s earnings. The wireless equipment industry currently had an average PEG ratio of 1.64 at yesterday’s close.
The wireless equipment industry is part of the computer and technology sector. This industry currently has a Zacks rank of 99, which places it in the top 39% of the 250+ industries.
The Zacks Industry Rankings assess the strength of our industry groups by measuring the average Zacks rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Be sure to follow all of these inventory movement metrics, and more, on Zacks.com.
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