Nokia (NOK) closed at US $ 3.88 in the last trading session, marking a + 1.57% movement in relation to the previous day. The stock was below the S&P 500 daily gain of 1.95%. Meanwhile, the Dow rose 1.85%, and the Nasdaq, a high-tech index, amounted to 1.55%.
Before today’s trading, the tech company’s shares had lost 12.59% in the previous month. This was behind the 6.69% loss in the IT and Technology sector and the 2.45% loss in the S&P 500 in that period.
Wall Street will seek positivity from NOK as the date of the next earnings report approaches. The company is expected to report earnings per share of $ 0.01, unchanged from the previous year’s quarter. Meanwhile, Zacks’ consensus estimate for revenue is projecting net sales of $ 5.87 billion, up 8.26% over the same period last year.
Looking at the full year, our Zacks consensus estimates suggest that analysts are expecting earnings of $ 0.23 per share and revenue of $ 25.97 billion. These totals would mark changes of -23.33% and + 3.7%, respectively, compared to last year.
It is also important to note the recent changes in analysts’ estimates for NOK. Recent reviews tend to reflect the most recent short-term business trends. As such, revisions to positive estimates reflect analysts’ optimism about the company’s business and profitability.
The research indicates that these estimate revisions are directly correlated with the short-term stock price momentum. Investors can profit from this using Zacks Rank. This model considers these changes in estimation and provides a simple and practical classification system.
The Zacks rating system ranges from # 1 (strong buy) to # 5 (strong sell). It has a notable track record of success, with external auditing, with shares # 1 providing an average annual return of + 25% since 1988. Last month, the Zacks Consensus EPS estimate rose 3.67%. NOK is holding a Zacks Rank of # 3 (Hold) now.
Looking at its assessment, NOK is maintaining a future P / E ratio of 16.9. This rating represents a discount compared to the industry average P / E Forward of 20.28.
In addition, we should mention that NOK has a PEG ratio of 11.34. The PEG index is similar to the widely used P / E index, but this metric also takes into account the company’s expected profit growth rate. 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 Industry Rank of 99, which places it among the top 39% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within the groups. Our research shows that the top 50% of the sectors outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these inventory movement metrics, and more, at Zacks.com.
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