Shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) have been given an average broker rating score of 1.75 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Mitel Networks Corporation’s rating score has improved by 12.5% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokerages have set a 1-year consensus price objective of $9.17 for the company and are expecting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also assigned Mitel Networks Corporation an industry rank of 48 out of 265 based on the ratings given to its competitors.

Several analysts have weighed in on the company. BidaskClub downgraded Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada raised their price objective on 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. National Bank Financial upgraded Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $7.50 to $10.00 in a research note on Friday, July 28th. TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th.

Shares of Mitel Networks Corporation (MITL) traded down 0.12% on Tuesday, hitting $8.46. The stock had a trading volume of 641,850 shares. The company’s market cap is $1.00 billion. Mitel Networks Corporation has a 12 month low of $6.21 and a 12 month high of $8.94. The company’s 50 day moving average price is $8.16 and its 200-day moving average price is $7.42.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last issued its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. The company had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. During the same quarter last year, the business posted $0.19 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. On average, analysts expect that Mitel Networks Corporation will post $0.63 earnings per share for the current year.

In other Mitel Networks Corporation news, insider Richard D. Mcbee sold 55,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $7.07, for a total value of $388,850.00. Following the sale, the insider now directly owns 322,647 shares of the company’s stock, valued at $2,281,114.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Associates L.P. Elliott sold 154,184 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $8.29, for a total transaction of $1,278,185.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,120,691 shares of company stock valued at $17,436,594. 16.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MITL. 1st Global Advisors Inc. raised its stake in shares of Mitel Networks Corporation by 1.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after buying an additional 337 shares during the last quarter. UBS Group AG lifted 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 valued at $113,000 after buying an additional 570 shares during the period. Stevens Capital Management LP lifted 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 valued at $117,000 after buying an additional 1,818 shares during the period. Bank of Montreal Can lifted its holdings in shares of Mitel Networks Corporation by 2.6% in the 2nd quarter. Bank of Montreal Can now owns 124,962 shares of the communications equipment provider’s stock valued at $918,000 after buying an additional 3,156 shares during the period. Finally, FMR LLC lifted its holdings in shares of Mitel Networks Corporation by 2.2% in the 2nd quarter. FMR LLC now owns 202,800 shares of the communications equipment provider’s stock valued at $1,491,000 after buying an additional 4,310 shares during the period. 79.18% of the stock is currently owned by institutional investors.

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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.

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