In the latest trading session, Nokia (NOK) closed at $5.05, marking a -1.17% move from the previous day. This move lagged the S&P 500's daily loss of 0.11%.Coming into today, shares of the technology company had gained 2.2% in the past month. In that same time, the Computer and Technology sector gained 7.15%, while the S&P 500 gained 2.23%.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 $0.06 per share, which would represent a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.32 billion, up 12.81% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $0.29 per share and revenue of $25.84 billion, which would represent changes of -3.33% and +3.16%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for NOK. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NOK is currently sporting a Zacks Rank of #2 (Buy).Digging into valuation, NOK currently has a Forward P/E ratio of 17.38. Its industry sports an average Forward P/E of 17.38, so we one might conclude that NOK is trading at a no noticeable deviation comparatively.We can also see that NOK currently has a PEG ratio of 11.67. 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. The Wireless Equipment industry currently had an average PEG ratio of 2.7 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 189, which puts it in the bottom 26% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.To follow NOK in the coming trading sessions, be sure to utilize 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.