Mitel Networks Corp. (MITL) Shares Up 1.8%
Shares of Mitel Networks Corp. (NASDAQ:MITL) shot up 1.8% during mid-day trading on Monday . The stock traded as high as $7.32 and last traded at $7.29, with a volume of 357,301 shares. The stock had previously closed at $7.16.
Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Mitel Networks Corp. in a report on Wednesday, May 4th.
The company’s 50-day moving average is $6.60 and its 200-day moving average is $6.93. The company’s market capitalization is $875.46 million.
Mitel Networks Corp. (NASDAQ:MITL) last issued its earnings results on Thursday, May 5th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01. During the same period in the prior year, the company posted $0.16 EPS. The business earned $276.80 million during the quarter, compared to analyst estimates of $281.88 million. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Mitel Networks Corp. will post $0.59 earnings per share for the current year.
A number of hedge funds and institutional investors recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Mitel Networks Corp. by 6.9% in the fourth quarter. Sei Investments Co. now owns 328,305 shares of the company’s stock valued at $2,525,000 after buying an additional 21,170 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in shares of Mitel Networks Corp. by 6.5% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 2,033,000 shares of the company’s stock valued at $15,633,000 after buying an additional 123,700 shares in the last quarter. Finally, Swiss National Bank bought a new position in shares of Mitel Networks Corp. during the fourth quarter valued at approximately $1,029,000.
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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