BidaskClub lowered shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) from a strong-buy rating to a buy rating in a report published on Saturday.

A number of other analysts have also weighed in on MITL. Royal Bank Of Canada restated a hold rating and set a $7.50 price objective on shares of Mitel Networks Corporation in a research note on Tuesday, May 2nd. National Bank Financial lowered shares of Mitel Networks Corporation from an outperform rating to a sector perform rating in a research note on Thursday, May 4th. Zacks Investment Research lowered shares of Mitel Networks Corporation from a hold rating to a strong sell rating in a research note on Wednesday, July 19th. Finally, TheStreet upgraded shares of Mitel Networks Corporation from a c rating to a b- rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $9.25.

Mitel Networks Corporation (NASDAQ:MITL) opened at 8.26 on Friday. The stock’s market capitalization is $976.72 million. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $8.94. The firm has a 50-day moving average of $7.66 and a 200-day moving average of $7.12.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. The business 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% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. Equities analysts expect that Mitel Networks Corporation will post $0.71 EPS for the current fiscal year.

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In related news, Chairman Terence H. Matthews sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $8.32, for a total value of $3,744,000.00. Following the transaction, the chairman now owns 40,703 shares of the company’s stock, valued at $338,648.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David M. Williams acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was acquired at an average cost of $7.51 per share, for a total transaction of $75,100.00. Following the acquisition, the director now owns 220,000 shares of the company’s stock, valued at approximately $1,652,200. The disclosure for this purchase can be found here. Insiders sold 2,111,870 shares of company stock valued at $16,219,525 over the last quarter. Company insiders own 16.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of MITL. Campbell & CO Investment Adviser LLC acquired a new position in Mitel Networks Corporation during the second quarter worth about $109,000. UBS Group AG increased its position in Mitel Networks Corporation by 3.6% in the first quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 570 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Mitel Networks Corporation by 146.4% in the first quarter. Tower Research Capital LLC TRC now owns 12,595 shares of the communications equipment provider’s stock worth $115,000 after buying an additional 7,483 shares during the last quarter. Stevens Capital Management LP increased its position in Mitel Networks Corporation by 12.1% in the first quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock worth $117,000 after buying an additional 1,818 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Mitel Networks Corporation by 47.7% in the first quarter. Toronto Dominion Bank now owns 19,827 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 6,401 shares during the last quarter. 82.54% of the stock is currently owned by institutional investors.

Mitel Networks Corporation 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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