Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has been given a consensus broker rating score of 1.75 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. Mitel Networks Corporation’s rating score has improved by 12.5% in the last three months as a result of various analysts’ ratings changes.

Brokers have set a twelve-month consensus price objective of $9.00 for the company and are anticipating that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mitel Networks Corporation an industry rank of 118 out of 265 based on the ratings given to its competitors.

Several research firms have issued reports on MITL. BidaskClub cut shares of Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada increased their target price on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. National Bank Financial upgraded shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $7.50 to $10.00 in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/09/zacks-mitel-networks-corporation-mitl-given-average-recommendation-of-buy-by-brokerages.html.

Shares of Mitel Networks Corporation (NASDAQ:MITL) traded down 0.63% during mid-day trading on Friday, hitting $7.95. The company’s stock had a trading volume of 549,190 shares. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $8.94. The stock’s market cap is $940.06 million. The company has a 50-day moving average price of $8.18 and a 200-day moving average price of $7.26.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last posted its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The business had revenue of $238.60 million for the quarter, compared to analysts’ expectations of $244.55 million. During the same period in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. Analysts predict that Mitel Networks Corporation will post $0.68 EPS for the current fiscal year.

In other news, Director Peter Charbonneau sold 32,668 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $8.02, for a total value of $261,997.36. Following the transaction, the director now owns 64,943 shares of the company’s stock, valued at approximately $520,842.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard D. Mcbee sold 55,000 shares of the 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 directly 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 1,591,291 shares of company stock worth $13,071,888 in the last three months. Insiders own 16.50% of the company’s stock.

Large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Mitel Networks Corporation in the 2nd quarter worth $109,000. UBS Group AG increased its holdings in shares of Mitel Networks Corporation by 3.6% in the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 570 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Mitel Networks Corporation by 146.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 12,595 shares of the communications equipment provider’s stock worth $115,000 after buying an additional 7,483 shares during the last quarter. Stevens Capital Management LP increased its holdings in shares of Mitel Networks Corporation by 12.1% in the 1st quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock worth $117,000 after buying an additional 1,818 shares during the last quarter. Finally, Cullen Capital Management LLC bought a new position in shares of Mitel Networks Corporation in the 2nd quarter worth $125,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

Mitel Networks Corporation Company Profile

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.

Get a free copy of the Zacks research report on Mitel Networks Corporation (MITL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mitel Networks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.