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Nokia (NOK) Gains But Lags Market: What You Should Know

Zacks Equity Research

In the latest trading session, Nokia (NOK) closed at $5.06, marking a +0.4% move from the previous day. This change lagged the S&P 500's 0.51% gain on the day. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.75%.

Coming into today, shares of the technology company had gained 2.44% in the past month. In that same time, the Computer and Technology sector gained 2.59%, while the S&P 500 gained 3.44%.

Investors will be hoping for strength from NOK as it approaches its next earnings release, which is expected to be October 24, 2019. On that day, NOK is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 85.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.31 billion, down 0.68% from the year-ago period.

NOK's full-year Zacks Consensus Estimates are calling for earnings of $0.27 per share and revenue of $26.22 billion. These results would represent year-over-year changes of 0% and -1.36%, respectively.

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Investors might also notice recent changes to analyst estimates for NOK. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. NOK is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 18.84. This represents a discount compared to its industry's average Forward P/E of 22.04.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Zacks Investment Research