Nokia (NOK) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Nokia (NOK) closed at $4.71, marking a -0.84% move from the previous day. This change lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.02%.

Prior to today's trading, shares of the technology company had lost 5.19% over the past month. This has was narrower than the Computer and Technology sector's loss of 7.26% and the S&P 500's loss of 7.99% in that time.

Investors will be hoping for strength from Nokia as it approaches its next earnings release. On that day, Nokia is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 9.09%. Meanwhile, our latest consensus estimate is calling for revenue of $6.07 billion, down 5.12% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.42 per share and revenue of $25.27 billion. These totals would mark changes of -4.55% and -3.62%, respectively, from last year.

Any recent changes to analyst estimates for Nokia should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 #3 (Hold).

Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 11.22. This represents a discount compared to its industry's average Forward P/E of 16.61.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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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