Nokia Co. (NYSE:NOK) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.

Nokia (NYSE:NOK) opened at 7.20 on Monday. The company has a market cap of $26.10 billion and a P/E ratio of 21.43. Nokia has a 1-year low of $5.71 and a 1-year high of $8.37. The stock has a 50 day moving average price of $7.15 and a 200 day moving average price of $6.92.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, October 29th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.29 billion. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. On average, equities research analysts anticipate that Nokia will post $0.35 EPS for the current fiscal year.

Several other brokerages have also issued reports on NOK. Vetr lowered Nokia from a “buy” rating to a “hold” rating and set a $7.64 target price on the stock. in a research report on Monday, January 18th. Zacks Investment Research lowered Nokia from a “buy” rating to a “hold” rating in a research report on Monday, October 26th. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of Nokia in a research note on Sunday, November 1st. Barclays reiterated a “buy” rating on shares of Nokia in a research note on Thursday, January 14th. Finally, TheStreet upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.27.

Nokia Corporation is a Finland-based telecommunication and network infrastructure company. The Company operates through two business segments: Nokia Networks and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services. Nokia Technologies develops and licenses technologies and manages an Intellectual Property (NYSE:NOK) portfolio of approximately 10,000 patent families consisted of approximately 30,000 individual patents and patent applications. The Company holds a majority stake in Alcatel-Lucent, among others, and owns operations and research and development (R&D) facilities in Europe, North America and Asia.

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