Mitel Networks Corporation (MITL) Receives Consensus Rating of “Buy” from Analysts
Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has earned an average broker rating score of 1.75 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company.
Analysts have set a twelve-month consensus price target of $9.50 for the company and are anticipating 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 54 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $7.50 to $10.00 in a report on Friday, July 28th. BidaskClub downgraded shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Royal Bank Of Canada boosted 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 report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th.
In other Mitel Networks Corporation news, Chairman Terence H. Matthews sold 350,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $8.35, for a total value of $2,922,500.00. Following the transaction, the chairman now owns 40,703 shares in the company, valued at approximately $339,870.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Gerald Lokar sold 18,736 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $8.64, for a total transaction of $161,879.04. Following the completion of the transaction, the insider now owns 14,752 shares in the company, valued at approximately $127,457.28. The disclosure for this sale can be found here. Insiders have sold 1,985,691 shares of company stock worth $16,466,944 in the last 90 days. 16.50% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MITL. River Road Asset Management LLC bought a new stake in Mitel Networks Corporation in the second quarter worth approximately $26,104,000. Sentry Investments Corp. bought a new stake in shares of Mitel Networks Corporation during the 2nd quarter worth $12,866,000. Point72 Asset Management L.P. bought a new stake in shares of Mitel Networks Corporation during the 1st quarter worth $5,741,000. Paradigm Capital Management Inc. NY boosted its holdings in shares of Mitel Networks Corporation by 37.0% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,838,000 shares of the communications equipment provider’s stock worth $20,859,000 after buying an additional 766,200 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Mitel Networks Corporation by 10,459.2% during the 2nd quarter. Acadian Asset Management LLC now owns 724,147 shares of the communications equipment provider’s stock worth $5,322,000 after buying an additional 717,289 shares during the period. 79.38% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Mitel Networks Corporation (MITL) Receives Consensus Rating of “Buy” from Analysts” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/24/mitel-networks-corporation-mitl-receives-consensus-rating-of-buy-from-analysts.html.
Shares of Mitel Networks Corporation (NASDAQ MITL) traded down 2.065% during trading on Tuesday, hitting $8.775. The company had a trading volume of 522,349 shares. The stock’s 50-day moving average is $8.36 and its 200 day moving average is $7.62. Mitel Networks Corporation has a 52-week low of $6.21 and a 52-week high of $9.13. The firm’s market capitalization is $1.04 billion.
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, beating analysts’ consensus estimates of ($0.01) by $0.14. The firm had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. Mitel Networks Corporation’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts predict that Mitel Networks Corporation will post $0.63 earnings per share for the current fiscal 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.
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.