Mitel Networks Corp. (MITL) Trading Down 2.1%
Mitel Networks Corp. (NASDAQ:MITL) shares traded down 2.1% during mid-day trading on Monday . The company traded as low as $7.04 and last traded at $7.06, with a volume of 1,576,645 shares traded. The stock had previously closed at $7.21.
Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Mitel Networks Corp. in a research report on Wednesday, May 4th.
The company’s market cap is $855.45 million. The firm has a 50 day moving average of $6.47 and a 200-day moving average of $6.97.
Mitel Networks Corp. (NASDAQ:MITL) last announced 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. During the same period in the previous year, the business posted $0.16 earnings per share. The business had revenue of $276.80 million for the quarter, compared to the consensus estimate of $281.88 million. Mitel Networks Corp.’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that Mitel Networks Corp. will post $0.59 earnings per share for the current year.
Other hedge funds have modified their holdings of the company. Swiss National Bank acquired a new stake in shares of Mitel Networks Corp. during the fourth quarter valued at about $1,029,000. Sei Investments Co. boosted its stake 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 valued at $2,525,000 after buying an additional 21,170 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its stake 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 valued at $15,633,000 after buying an additional 123,700 shares in the last quarter.
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).
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