Mitel Networks (MITL) Releases Quarterly Earnings Results
Mitel Networks (NASDAQ:MITL) announced its earnings results on Thursday. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.01, AmericanBankingNews.com reports. The company had revenue of $288.70 million for the quarter, compared to the consensus estimate of $286.20 million. During the same quarter last year, the company posted $0.25 earnings per share. Mitel Networks’s revenue was down 1.5% compared to the same quarter last year. Mitel Networks updated its Q0 guidance to $0.14-0.16 EPS.
Mitel Networks (NASDAQ:MITL) traded down 4.41% during mid-day trading on Thursday, hitting $9.98. The stock had a trading volume of 219,103 shares. Mitel Networks has a 52 week low of $4.26 and a 52 week high of $11.94. The stock’s 50-day moving average is $10.55 and its 200-day moving average is $10.0. The company’s market cap is $987.8 million.
On a related note, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Mitel Networks in a research note on Friday, May 9th. They now have a $14.00 price target on the stock, up previously from $12.00. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $10.81.
Mitel Networks Corporation is a provider of integrated communications solutions focused on the small-to-medium sized enterprise (NASDAQ:MITL).
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