Mitel Networks Corp. (MITL) Stock Price Up 1.8%
Mitel Networks Corp. (NASDAQ:MITL) shares rose 1.8% during trading on Monday . The company traded as high as $7.32 and last traded at $7.29, with a volume of 357,301 shares changing hands. The stock had previously closed at $7.16.
Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Mitel Networks Corp. in a report on Monday, April 18th.
The firm’s 50 day moving average price is $6.63 and its 200-day moving average price is $6.92. The company’s market capitalization is $888.80 million.
Mitel Networks Corp. (NASDAQ:MITL) last posted its earnings results on Thursday, May 5th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. During the same period last year, the firm posted $0.16 EPS. The company earned $276.80 million during the quarter, compared to analyst estimates of $281.88 million. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Mitel Networks Corp. will post $0.59 earnings per share for the current year.
Other institutional investors have bought and sold shares of the company. Paradigm Capital Management Inc. NY boosted its position in 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 during the last quarter. Sei Investments Co. boosted its position in 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 during the last quarter. Finally, Swiss National Bank acquired a new position in 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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