Shares of Mitel Networks Corp. (NASDAQ:MITL) have been assigned an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and three have given a strong buy rating to the company. Mitel Networks Corp.’s rating score has improved by 10.7% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 12-month consensus price target of $12.00 for the company, according to Zacks. Zacks has also assigned Mitel Networks Corp. an industry rank of 60 out of 265 based on the ratings given to its competitors.

Hedge funds have recently made changes to their positions in the stock. NWQ Investment Management Company LLC boosted its stake in shares of Mitel Networks Corp. by 4.4% in the first quarter. NWQ Investment Management Company LLC now owns 12,723,384 shares of the company’s stock valued at $104,077,000 after buying an additional 540,055 shares during the last quarter. Elliott Management Corp boosted its stake in shares of Mitel Networks Corp. by 1.9% in the first quarter. Elliott Management Corp now owns 11,768,719 shares of the company’s stock valued at $96,268,000 after buying an additional 219,848 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Mitel Networks Corp. by 5.9% in the first quarter. UBS Asset Management Americas Inc. now owns 56,438 shares of the company’s stock valued at $462,000 after buying an additional 3,138 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Mitel Networks Corp. by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 216,010 shares of the company’s stock valued at $1,767,000 after buying an additional 3,456 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its stake in shares of Mitel Networks Corp. by 57.3% in the second quarter. Clear Harbor Asset Management LLC now owns 55,000 shares of the company’s stock valued at $346,000 after buying an additional 20,025 shares during the last quarter. Hedge funds and other institutional investors own 83.03% of the company’s stock.

Mitel Networks Corp. (NASDAQ:MITL) traded up 0.14% during mid-day trading on Friday, hitting $7.41. The stock had a trading volume of 75,503 shares. Mitel Networks Corp. has a 12-month low of $5.81 and a 12-month high of $8.90. The stock’s market cap is $901.03 million. The company has a 50-day moving average of $7.61 and a 200-day moving average of $7.12.

Mitel Networks Corp. (NASDAQ:MITL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Mitel Networks Corp. had a positive return on equity of 12.57% and a negative net margin of 3.91%. The business had revenue of $307.20 million for the quarter, compared to analysts’ expectations of $292.05 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, analysts anticipate that Mitel Networks Corp. will post $0.63 earnings per share for the current fiscal year.

About Mitel Networks Corp.

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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