Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has been given a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. Mitel Networks Corporation’s rating score has improved by 12.5% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus price objective of $9.00 for the company and are forecasting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mitel Networks Corporation an industry rank of 93 out of 265 based on the ratings given to its competitors.

Several brokerages have recently issued reports on MITL. National Bank Financial raised shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $7.50 to $10.00 in a research report on Friday, July 28th. BidaskClub downgraded shares of Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet raised shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price objective on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research report on Friday, July 28th.

In other Mitel Networks Corporation news, major shareholder Associates L.P. Elliott sold 154,184 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $8.29, for a total value of $1,278,185.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Gerald Lokar sold 18,736 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $8.64, for a total transaction of $161,879.04. Following the completion of the sale, the insider now owns 14,752 shares of the company’s stock, valued at approximately $127,457.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,120,691 shares of company stock valued at $17,436,594. 16.50% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in shares of Mitel Networks Corporation by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 265,236 shares of the communications equipment provider’s stock worth $1,834,000 after buying an additional 27,972 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Mitel Networks Corporation by 118.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 49,592 shares of the communications equipment provider’s stock worth $344,000 after buying an additional 26,892 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Mitel Networks Corporation by 0.3% during the 1st quarter. Sei Investments Co. now owns 456,025 shares of the communications equipment provider’s stock worth $3,160,000 after buying an additional 1,470 shares during the last quarter. Stevens Capital Management LP lifted its stake in shares of Mitel Networks Corporation by 12.1% during the 1st 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, Oxford Asset Management acquired a new stake in shares of Mitel Networks Corporation during the 1st quarter worth about $915,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.

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Shares of Mitel Networks Corporation (NASDAQ:MITL) traded up 1.02% during midday trading on Friday, hitting $8.39. 1,469,388 shares of the company’s stock were exchanged. The firm’s market cap is $992.09 million. The company has a 50-day moving average of $8.24 and a 200-day moving average of $7.34. Mitel Networks Corporation has a 52 week low of $6.21 and a 52 week high of $8.94.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last issued its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The company had revenue of $238.60 million during the quarter, compared to the consensus estimate of $244.55 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts expect that Mitel Networks Corporation will post $0.63 EPS for the current fiscal year.

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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