Nokia (NOK) closed at $5.81 in the latest trading session, marking a +0.69% move from the prior day. This change outpaced the S&P 500's 0% on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq gained 0.25%.
Coming into today, shares of the technology company had lost 5.1% in the past month. In that same time, the Computer and Technology sector gained 3.92%, while the S&P 500 gained 2.36%.
Wall Street will be looking for positivity from NOK as it approaches its next earnings report date. This is expected to be April 25, 2019. The company is expected to report EPS of $0.03, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.13 billion, up 1.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.33 per share and revenue of $26.59 billion, which would represent changes of +22.22% and +0.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NOK. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. NOK is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 17.66. This valuation marks a discount compared to its industry's average Forward P/E of 24.67.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.