Hot Stocks Nokia Corporation Buy Now?

28. 07. 2022 Thursday / By: Robert Denes / Business / Exact time: BST / Print this page

Nokia has recently been one of the most traded stocks on So it's worth looking at some facts that could affect the stock's performance in the near future.

Over the past month, shares of this technology company have returned +6.1%, compared to a +0.2% change in the Zacks S&P 500 Composite. During this period, the Zacks Wireless Equipment industry, into which Nokia falls, gained 10.7%.

The key question now is: What is the future direction of the stock?

While media reports or rumors of a material change in a company's business outlook tend to "trend" its stock and lead to an immediate price change, there are always fundamental facts that ultimately dominate buy-hold decision-making.

At Zacks, we prioritize evaluating changes in a company's future earnings forecasts over anything else. This is because we believe that the present value of your future income stream determines the fair value of your shares.

Our analysis is basically based on how sell-side analysts covering the stock adjust their earnings estimates to take into account the latest business trends. When a company's earnings estimates rise, so does the fair value of its stock. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, causing the price to move up. For this reason, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Nokia's earnings per share are expected to be $0.10, representing a +11.1% change from the year-ago quarter. The Zacks Consensus Estimate has changed -7.3% over the past 30 days.

For the current fiscal year, the consensus earnings estimate is $0.42, representing a year-over-year change of -4.6%. Over the past 30 days, this estimate has changed by -0.4%.

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