NOKIANEWS - News of the Nokia

Nokia shares fall as market rises

11. 04. 2023 Tuesday / By: Robert Denes / Business / Exact time: BST / Print this page

In recent trade, Nokia (NOK) closed at $4.82, a -1.03% move from the previous day. That change fell short of the S&P 500's 0.1% daily gain. Elsewhere, the Dow gained 0.3%, while the technology-heavy Nasdaq lost 2.19%.

Year-to-date, the tech company's shares have gained 3.84% in the past month, lagging behind the computer and technology sector's 7.7% gain and outpacing the S&P 500's 3.13% gain.

Wall Street will be looking for positivity from Nokia as its next earnings date approaches. This is expected to be on April 20, 2023. On that day, Nokia is forecast to report earnings per share of $0.09, up 12.5% year over year. Meanwhile, our latest consensus estimate calls for revenue of $6.04 billion, up 0.62% from the year-ago quarter.

Full-year Zacks Consensus Estimates for NOK call for earnings of $0.46 per share and revenue of $27.33 billion. These results mean an annual change of 0% and +4.48%, respectively.

Investors should also note recent changes in analyst estimates for Nokia. These adjustments typically reflect the latest short-term business trends, which can change frequently. As a result, positive estimate changes can be interpreted as a good sign for the company's business prospects.

In terms of valuation, Nokia currently trades at a Forward P/E ratio of 10.51. In comparison, its industry average Forward P/E is 13.18, meaning Nokia is trading at a discount to the group.

It is also worth noting that NOK's PEG ratio is currently 5.94. The PEG ratio is similar to the widely used P/E ratio, but this metric also takes into account the company's expected earnings growth rate. Wireless Equipment stocks have an average PEG ratio of 2.52 based on yesterday's closing prices.

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