Mitel Networks Corp. (MITL) Sets New 52-Week Low at $5.85
Mitel Networks Corp. (NASDAQ:MITL)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $5.85 and last traded at $5.86, with a volume of 311,362 shares trading hands. The stock had previously closed at $6.02.
Several equities analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Mitel Networks Corp. in a research note on Wednesday, May 4th. Zacks Investment Research raised shares of Mitel Networks Corp. from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Thursday, March 10th.
The stock has a 50-day moving average price of $6.44 and a 200-day moving average price of $6.98. The company’s market capitalization is $712.98 million.
Mitel Networks Corp. (NASDAQ:MITL) last posted its earnings results on Thursday, May 5th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The company had revenue of $276.80 million for the quarter, compared to the consensus estimate of $281.88 million. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. On average, analysts anticipate that Mitel Networks Corp. will post $0.60 EPS for the current year.
Several institutional investors have modified their holdings of MITL. Paradigm Capital Management Inc. NY boosted 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 worth $15,633,000 after buying an additional 123,700 shares during the last quarter. Sei Investments Co. boosted 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 worth $2,525,000 after buying an additional 21,170 shares during the last quarter. Finally, Swiss National Bank acquired a new position in shares of Mitel Networks Corp. during the fourth quarter worth approximately $1,029,000.
Mitel Networks Corporation (Mitel) is a global provider of business communications and collaboration software, services and solutions. They power more than 2 billion connections every day, including over 33 million daily cloud connections. Mitel offers portfolios of business communications solutions, which are known as unified communications and collaboration (UCC).