Mitel Networks Corp (MITL) Given Average Rating of “Hold” by Brokerages

Shares of Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.17.

Several analysts recently weighed in on the company. BidaskClub raised Mitel Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research lowered Mitel Networks from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. GARP Research began coverage on Mitel Networks in a report on Tuesday, December 19th. They issued a “buy” rating for the company. Craig Hallum began coverage on Mitel Networks in a report on Thursday, December 14th. They set a “buy” rating and a $14.00 target price for the company. Finally, TheStreet lowered Mitel Networks from a “b” rating to a “c” rating in a report on Tuesday, November 14th.

Shares of Mitel Networks (NASDAQ:MITL) opened at $9.07 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $1,080.17 and a PE ratio of -4.40. Mitel Networks has a fifty-two week low of $6.21 and a fifty-two week high of $9.17.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last announced its quarterly earnings data on Thursday, November 2nd. The communications equipment provider reported ($0.23) earnings per share for the quarter. The firm had revenue of $241.50 million during the quarter, compared to the consensus estimate of $233.50 million. Mitel Networks had a negative net margin of 26.71% and a negative return on equity of 9.36%. equities analysts anticipate that Mitel Networks will post -0.47 EPS for the current year.

In related news, insider Richard D. Mcbee bought 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the insider now owns 268,047 shares of the company’s stock, valued at $2,144,376. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 5,244 shares of company stock valued at $41,773 over the last ninety days. Corporate insiders own 16.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. grew its holdings in shares of Mitel Networks by 1.4% during the second quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after purchasing an additional 337 shares during the last quarter. FMR LLC grew its holdings in shares of Mitel Networks by 2.2% during the second quarter. FMR LLC now owns 202,800 shares of the communications equipment provider’s stock valued at $1,491,000 after purchasing an additional 4,310 shares during the last quarter. State Street Corp grew its holdings in shares of Mitel Networks by 5.6% during the second quarter. State Street Corp now owns 127,946 shares of the communications equipment provider’s stock valued at $939,000 after purchasing an additional 6,785 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Mitel Networks by 3.8% during the second quarter. Vanguard Group Inc. now owns 261,817 shares of the communications equipment provider’s stock valued at $1,925,000 after purchasing an additional 9,604 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Mitel Networks by 79.6% during the third quarter. Toronto Dominion Bank now owns 30,922 shares of the communications equipment provider’s stock valued at $259,000 after purchasing an additional 13,708 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Mitel Networks Corp (MITL) Given Average Rating of “Hold” by Brokerages” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2018/02/02/mitel-networks-corp-mitl-given-average-rating-of-hold-by-brokerages.html.

Mitel Networks 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.

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

Leave a Reply