A number of research firms have changed their ratings and price targets for Mitel Networks Corporation (NASDAQ: MITL):

  • 8/3/2017 – Mitel Networks Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/28/2017 – Mitel Networks Corporation was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating. They now have a $10.00 price target on the stock, up previously from $7.50.
  • 7/28/2017 – Mitel Networks Corporation had its price target raised by analysts at Royal Bank Of Canada from $7.50 to $8.50. They now have a “sector perform” rating on the stock.
  • 7/27/2017 – Mitel Networks Corporation was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 7/19/2017 – Mitel Networks Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Mitel Networks is a provider of integrated communications solutions focused on the SME market. Its portfolio of IP-based communications solutions consists of IP telephony platforms, unified communications and collaboration applications and managed and network services. By integrating voice, video and data communications with business applications, Mitel enables businesses to improve their performance. Mitel involves in the market evolution to unified communications and collaboration, enabling customers to move beyond basic fixed telephony and disparate communications tools toward integrated multi-media communications and collaboration between users, wherever they may be located. Mitel’s U.S. headquarters are in Phoenix, Arizona. Global headquarters are in Ottawa, Canada, with offices, partners, and resellers worldwide. “
  • 7/11/2017 – Mitel Networks Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last announced its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.14. The firm had revenue of $238.60 million for the quarter, compared to the consensus estimate of $244.55 million. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS.

In related news, Chairman Terence H. Matthews sold 971,900 shares of Mitel Networks Corporation stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $7.08, for a total value of $6,881,052.00. Following the transaction, the chairman now owns 40,703 shares in the company, valued at approximately $288,177.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard D. Mcbee sold 55,000 shares of Mitel Networks Corporation stock in a transaction on Monday, July 17th. The stock was sold at an average price of $7.07, for a total transaction of $388,850.00. Following the completion of the transaction, the insider now owns 322,647 shares in the company, valued at approximately $2,281,114.29. The disclosure for this sale can be found here. Insiders sold a total of 1,294,356 shares of company stock worth $9,395,412 in the last quarter. Insiders own 16.50% of the company’s stock.

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment.

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