Mitel Networks Corp. (MITL) Receives Outperform Market Weight Rating from National Bank Financial
Mitel Networks Corp. (NASDAQ:MITL) traded down 0.54% during midday trading on Monday, reaching $7.33. 193,795 shares of the company traded hands. The company’s market capitalization is $891.31 million. The stock’s 50 day moving average is $7.50 and its 200 day moving average is $7.13. Mitel Networks Corp. has a one year low of $5.81 and a one year high of $8.90.
Mitel Networks Corp. (NASDAQ:MITL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Mitel Networks Corp. had a negative net margin of 3.91% and a positive return on equity of 12.57%. The business had revenue of $307.20 million for the quarter, compared to analysts’ expectations of $292.05 million. During the same period last year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Mitel Networks Corp. will post $0.64 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. bought a new stake in Mitel Networks Corp. during the second quarter worth $122,000. Trexquant Investment LP raised its stake in Mitel Networks Corp. by 29.8% in the second quarter. Trexquant Investment LP now owns 20,943 shares of the company’s stock worth $132,000 after buying an additional 4,805 shares during the period. Stifel Financial Corp raised its stake in Mitel Networks Corp. by 8.3% in the second quarter. Stifel Financial Corp now owns 27,770 shares of the company’s stock worth $175,000 after buying an additional 2,140 shares during the period. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Mitel Networks Corp. during the second quarter worth $189,000. Finally, First Interstate Bank raised its stake in Mitel Networks Corp. by 6.3% in the second quarter. First Interstate Bank now owns 34,920 shares of the company’s stock worth $220,000 after buying an additional 2,075 shares during the period. 83.03% of the stock is owned by hedge funds and other institutional investors.
Mitel Networks Corp. Company Profile
Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company operates through three segments: Enterprise, Cloud and Mobile. 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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