Investors focused on the Computer and Technology space have likely heard of Nokia (NOK), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Nokia is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. NOK is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NOK’s full-year earnings has moved 26.72% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NOK has returned 37.34% so far this year. At the same time, Computer and Technology stocks have gained an average of 19.26%. This means that Nokia is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NOK belongs to the Wireless Equipment industry, which includes 15 individual stocks and currently sits at #220 in the Zacks Industry Rank. On average, this group has gained an average of 4.31% so far this year, meaning that NOK is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on NOK as it attempts to continue its solid performance.
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