Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) has earned a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment 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 analysts that have issued ratings on the stock in the last year is $12.50.
Several equities research analysts recently weighed in on MITL shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $8.50 target price on shares of Mitel Networks in a research note on Thursday, November 2nd. Zacks Investment Research downgraded shares of Mitel Networks from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. TheStreet downgraded shares of Mitel Networks from a “b” rating to a “c” rating in a research note on Tuesday, November 14th. BidaskClub downgraded shares of Mitel Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. Finally, Craig Hallum started coverage on shares of Mitel Networks in a research note on Thursday, December 14th. They set a “buy” rating and a $14.00 target price on the stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Mitel Networks by 295.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,744 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 9,519 shares during the period. FDx Advisors Inc. purchased a new stake in shares of Mitel Networks in the 3rd quarter valued at approximately $125,000. Allianz Asset Management GmbH purchased a new stake in shares of Mitel Networks in the 3rd quarter valued at approximately $146,000. Highstreet Asset Management Inc. purchased a new stake in shares of Mitel Networks in the 4th quarter valued at approximately $151,000. Finally, Wells Fargo & Company MN increased its position in shares of Mitel Networks by 90.0% in the 4th quarter. Wells Fargo & Company MN now owns 18,426 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 8,729 shares during the last quarter. 77.94% of the stock is currently owned by hedge funds and other institutional investors.
Mitel Networks (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings results on Thursday, February 22nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The business had revenue of $355.90 million for the quarter, compared to the consensus estimate of $345.88 million. Mitel Networks had a negative net margin of 4.69% and a negative return on equity of 14.28%. The business’s revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. sell-side analysts anticipate that Mitel Networks will post -0.01 earnings per share for the current fiscal year.
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.
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