Mitel Networks Reaches New 12-Month High at $10.28 (MITL)
Mitel Networks (NASDAQ:MITL)’s share price reached a new 52-week high on Thursday, American Banking & Market News reports. The company traded as high as $10.28 and last traded at $10.24, with a volume of 419,717 shares traded. The stock had previously closed at $10.03.
A number of research firms have recently commented on MITL. Analysts at Sidoti initiated coverage on shares of Mitel Networks in a research note to investors on Wednesday. They set a “buy” rating on the stock. Separately, analysts at CIBC reiterated a “sector outperform” rating on shares of Mitel Networks in a research note to investors on Friday, December 6th. Finally, analysts at Canaccord Genuity raised their price target on shares of Mitel Networks from C$8.00 to C$12.00 in a research note to investors on Friday, December 6th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $10.31.
Mitel Networks has a 52-week low of $3.25 and a 52-week high of $10.28. The stock has a 50-day moving average of $9.36 and a 200-day moving average of $6.39. The company has a market cap of $552.4 million and a P/E ratio of 48.93.
Mitel Networks (NASDAQ:MITL) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $146.22 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Mitel Networks will post $0.87 earnings per share 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).
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