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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
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Nokia (NOK - Free Report) closed at $3.96 in the latest trading session, marking a -1% move from the prior day. This change lagged the S&P 500's 0.94% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the technology company had gained 5.26% over the past month. This has outpaced the Computer and Technology sector's gain of 3.69% and the S&P 500's gain of 1.85% 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 October 19, 2023. In that report, analysts expect Nokia to post earnings of $0.09 per share. This would mark a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.36 billion, up 1.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.42 per share and revenue of $26.4 billion. These totals would mark changes of -8.7% and +0.92%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nokia. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 9.6 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.32.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nokia (NOK) Dips More Than Broader Markets: What You Should Know
Nokia (NOK - Free Report) closed at $3.96 in the latest trading session, marking a -1% move from the prior day. This change lagged the S&P 500's 0.94% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the technology company had gained 5.26% over the past month. This has outpaced the Computer and Technology sector's gain of 3.69% and the S&P 500's gain of 1.85% 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 October 19, 2023. In that report, analysts expect Nokia to post earnings of $0.09 per share. This would mark a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.36 billion, up 1.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.42 per share and revenue of $26.4 billion. These totals would mark changes of -8.7% and +0.92%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nokia. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nokia is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Nokia has a Forward P/E ratio of 9.6 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.32.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.