In the latest trading session, Nokia (NOK) closed at $3.91, marking a -0.51% move from the previous day. This change was narrower than the S&P 500's 1.4% loss on the day. Meanwhile, the Dow lost 1.34%, and the Nasdaq, a tech-heavy index, lost 1.57%.Coming into today, shares of the technology company had lost 12.28% in the past month. In that same time, the Computer and Technology sector lost 0.17%, while the S&P 500 lost 0.46%.Investors will be hoping for strength from NOK as it approaches its next earnings release. On that day, NOK is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $6.41 billion, up 1.44% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.28 per share and revenue of $25.61 billion. These totals would mark changes of +12% and -1.8%, respectively, from last year.Investors should also note any recent changes to analyst estimates for NOK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.21% higher. NOK is holding a Zacks Rank of #3 (Hold) right now.Investors should also note NOK's current valuation metrics, including its Forward P/E ratio of 14.14. Its industry sports an average Forward P/E of 19.17, so we one might conclude that NOK is trading at a discount comparatively.We can also see that NOK currently has a PEG ratio of 0.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NOK's industry had an average PEG ratio of 1.78 as of yesterday's close.The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nokia Corporation (NOK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research