Mitel Networks Corp (MITL) Expected to Announce Earnings of $0.25 Per Share

Brokerages forecast that Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) will report $0.25 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Mitel Networks’ earnings. Mitel Networks reported earnings of $0.16 per share during the same quarter last year, which would suggest a positive year over year growth rate of 56.3%. The firm is expected to issue its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Mitel Networks will report full-year earnings of $0.95 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will post earnings of $1.28 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Mitel Networks.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last issued its quarterly earnings results on Wednesday, August 1st. The communications equipment provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Mitel Networks had a negative return on equity of 9.58% and a negative net margin of 2.76%. The company had revenue of $324.70 million for the quarter.

MITL has been the topic of several analyst reports. BidaskClub upgraded Mitel Networks from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. ValuEngine lowered Mitel Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.05.

MITL traded down $0.02 on Friday, hitting $11.00. 293,389 shares of the company were exchanged, compared to its average volume of 1,687,343. Mitel Networks has a 12 month low of $7.13 and a 12 month high of $11.31. The firm has a market capitalization of $1.36 billion, a PE ratio of -27.50 and a beta of 2.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.87 and a current ratio of 1.05.

In related news, Director Benjamin Ball sold 21,250 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $10.97, for a total transaction of $233,112.50. Following the sale, the director now owns 51,125 shares in the company, valued at $560,841.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd Abbott sold 2,448 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $11.01, for a total value of $26,952.48. Following the sale, the executive vice president now owns 7,552 shares in the company, valued at approximately $83,147.52. The disclosure for this sale can be found here. Insiders have sold 43,019 shares of company stock worth $472,596 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its position in Mitel Networks by 17.6% during the second quarter. Toronto Dominion Bank now owns 37,319 shares of the communications equipment provider’s stock worth $409,000 after buying an additional 5,598 shares during the last quarter. BlackRock Inc. increased its position in Mitel Networks by 2.8% during the second quarter. BlackRock Inc. now owns 213,410 shares of the communications equipment provider’s stock worth $2,341,000 after buying an additional 5,784 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Mitel Networks by 44.8% during the second quarter. Cubist Systematic Strategies LLC now owns 28,702 shares of the communications equipment provider’s stock worth $314,000 after buying an additional 8,883 shares during the last quarter. TD Asset Management Inc. increased its position in Mitel Networks by 3.3% during the second quarter. TD Asset Management Inc. now owns 345,270 shares of the communications equipment provider’s stock worth $3,777,000 after buying an additional 10,900 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Mitel Networks by 6.5% during the third quarter. Bank of Montreal Can now owns 192,101 shares of the communications equipment provider’s stock worth $2,116,000 after buying an additional 11,692 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.

Mitel Networks Company Profile

Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.

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