Mitel Networks Corp. (NASDAQ:MITL)’s share price dropped 0.9% during mid-day trading on Monday . The stock traded as low as $7.43 and last traded at $7.46, with a volume of 212,703 shares changing hands. The stock had previously closed at $7.53.

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

The firm has a 50 day moving average of $7.51 and a 200 day moving average of $7.08. The company’s market cap is $909.55 million.

Mitel Networks Corp. (NASDAQ:MITL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The business earned $307.20 million during the quarter, compared to analysts’ expectations of $292.05 million. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior 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 fiscal year.

An institutional investor recently bought a new position 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 fund acquired 133,800 shares of the company’s stock, valued at approximately $1,029,000. Swiss National Bank owned approximately 0.11% of Mitel Networks Corp. as of its most recent SEC filing.

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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