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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nokia (NOK - Free Report) closed at $4.82, marking a -1.03% move from the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Heading into today, shares of the technology company had gained 3.84% over the past month, lagging the Computer and Technology sector's gain of 7.7% and outpacing the S&P 500's gain of 3.13% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be April 20, 2023. On that day, Nokia is projected to report earnings of $0.09 per share, which would represent year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $6.04 billion, up 0.62% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.46 per share and revenue of $27.33 billion. These results would represent year-over-year changes of 0% and +4.48%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 10.51. For comparison, its industry has an average Forward P/E of 13.18, which means Nokia is trading at a discount to the group.
It is also worth noting that NOK currently has a PEG ratio of 5.94. 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 2.52 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 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nokia (NOK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nokia (NOK - Free Report) closed at $4.82, marking a -1.03% move from the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Heading into today, shares of the technology company had gained 3.84% over the past month, lagging the Computer and Technology sector's gain of 7.7% and outpacing the S&P 500's gain of 3.13% in that time.
Wall Street will be looking for positivity from Nokia as it approaches its next earnings report date. This is expected to be April 20, 2023. On that day, Nokia is projected to report earnings of $0.09 per share, which would represent year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $6.04 billion, up 0.62% from the prior-year quarter.
NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.46 per share and revenue of $27.33 billion. These results would represent year-over-year changes of 0% and +4.48%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Nokia is currently trading at a Forward P/E ratio of 10.51. For comparison, its industry has an average Forward P/E of 13.18, which means Nokia is trading at a discount to the group.
It is also worth noting that NOK currently has a PEG ratio of 5.94. 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 2.52 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 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.