Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has been assigned a consensus broker rating score of 1.75 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on 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.

Brokerages have set a 12-month consensus price objective of $9.00 for the company and are forecasting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also given Mitel Networks Corporation an industry rank of 174 out of 265 based on the ratings given to its competitors.

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

In other Mitel Networks Corporation news, 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 sale, the insider now owns 322,647 shares of the company’s stock, valued at approximately $2,281,114.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard D. Mcbee sold 80,000 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $7.26, for a total value of $580,800.00. Following the sale, the insider now directly owns 347,647 shares in the company, valued at approximately $2,523,917.22. The disclosure for this sale can be found here. Insiders have sold a total of 1,616,291 shares of company stock worth $13,275,638 in the last ninety days. Insiders own 16.50% of the company’s stock.

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

COPYRIGHT VIOLATION WARNING: “Zacks: Mitel Networks Corporation (MITL) Receives Average Rating of “Buy” from Brokerages” was published by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/15/zacks-mitel-networks-corporation-mitl-receives-average-rating-of-buy-from-brokerages.html.

Shares of Mitel Networks Corporation (NASDAQ:MITL) opened at 8.13 on Friday. The company’s 50 day moving average price is $8.26 and its 200 day moving average price is $7.29. The company’s market capitalization is $961.35 million. Mitel Networks Corporation has a 52-week low of $6.21 and a 52-week high of $8.94.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data 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 company had revenue of $238.60 million for the quarter, compared to the consensus estimate of $244.55 million. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. Mitel Networks Corporation’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, analysts predict that Mitel Networks Corporation will post $0.68 EPS for the current year.

About Mitel Networks Corporation

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.