Mitel Networks Corp. (NASDAQ:MITL) shares were down 2.9% during trading on Wednesday . The stock traded as low as $7.67 and last traded at $7.70, with a volume of 455,800 shares. The stock had previously closed at $7.93.

Separately, Royal Bank Of Canada restated an “outperform” rating and set a $14.00 price target on shares of Mitel Networks Corp. in a research note on Wednesday, May 4th.

The stock has a 50 day moving average of $7.23 and a 200-day moving average of $7.03. The stock’s market capitalization is $935.08 million.

Mitel Networks Corp. (NASDAQ:MITL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The firm had revenue of $307.20 million for the quarter, compared to the consensus estimate of $292.05 million. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts anticipate that Mitel Networks Corp. will post $0.63 earnings per share for the current year.

A hedge fund recently bought a new stake in Mitel Networks Corp. stock. Swiss National Bank acquired a new stake in Mitel Networks Corp. (NASDAQ:MITL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 133,800 shares of the company’s stock, valued at approximately $1,029,000. Swiss National Bank owned 0.11% of Mitel Networks Corp. at the end of the most recent reporting period.

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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