Mitel Networks PT Raised to $5.00 (MITL)
Investment analysts at RBC Capital increased their price objective on shares of Mitel Networks (NASDAQ:MITL) from $4.50 to $5.00 in a note issued to investors on Monday, Stock Ratings Network.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective suggests a potential downside of 13.34% from the company’s current price.
A number of other analysts have also recently weighed in on MITL. Analysts at Canaccord Genuity raised their price target on shares of Mitel Networks (NASDAQ:MITL) from C$5.00 to C$6.00 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Separately, analysts at M Partners cut their price target on shares of Mitel Networks (NASDAQ:MITL) from C$7.00 to C$6.25 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Mitel Networks (NASDAQ:MITL) in a research note to investors on Monday, July 8th. They now have a $6.00 price target on the stock.
Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $5.60.
Shares of Mitel Networks (NASDAQ:MITL) traded up 0.17% on Monday, hitting $5.77. 112,174 shares of the company’s stock traded hands. Mitel Networks has a 1-year low of $2.41 and a 1-year high of $5.83. The stock has a 50-day moving average of $4.80 and a 200-day moving average of $4.06. The company has a market cap of $310.3 million and a price-to-earnings ratio of 68.57.
Mitel Networks (NASDAQ:MITL) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.02. The company had revenue of $141.60 million for the quarter, compared to the consensus estimate of $143.50 million. During the same quarter last year, the company posted $0.08 earnings per share. Mitel Networks’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that Mitel Networks will post $0.83 EPS for the current fiscal year.
Mitel Networks Corporation is a provider of integrated communications solutions focused on the small-to-medium sized enterprise (NASDAQ:MITL).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.