Nokia (NOK) closed the latest trading day at $3.70, indicating a +0.82% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.03%. Meanwhile, the Dow experienced a rise of 0.34%, and the technology-dominated Nasdaq saw an increase of 1.51%.

Coming into today, shares of the technology company had gained 3.38% in the past month. In that same time, the Computer and Technology sector gained 2.52%, while the S&P 500 gained 3.21%.

Market participants will be closely following the financial results of Nokia in its upcoming release. In that report, analysts expect Nokia to post earnings of $0.06 per share. This would mark no growth from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $5.19 billion, indicating a 17.38% downward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.38 per share and a revenue of $23.65 billion, signifying shifts of +22.58% and -1.73%, respectively, from the last year.

Any recent changes to analyst estimates for Nokia should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Nokia is currently a Zacks Rank #3 (Hold).

Investors should also note Nokia's current valuation metrics, including its Forward P/E ratio of 9.62. Its industry sports an average Forward P/E of 14.15, so one might conclude that Nokia is trading at a discount comparatively.

Investors should also note that NOK has a PEG ratio of 1.02 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.43 as of yesterday's close.