Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Other analysts also recently issued research reports about the stock. National Bank Financial raised shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $7.50 to $10.00 in a report on Friday, July 28th. TheStreet raised shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Royal Bank Of Canada upped their price target on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $9.25.

Mitel Networks Corporation (MITL) traded down 0.34% on Thursday, reaching $8.69. 1,301,444 shares of the company’s stock were exchanged. Mitel Networks Corporation has a 12-month low of $6.21 and a 12-month high of $8.79. The company’s market cap is $1.03 billion. The firm has a 50 day moving average of $7.38 and a 200-day moving average of $7.03.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last announced its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The company had revenue of $238.60 million for the quarter, compared to the consensus estimate of $244.55 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities analysts expect that Mitel Networks Corporation will post $0.71 EPS for the current fiscal year.

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In other Mitel Networks Corporation news, insider Gregory James Hiscock sold 3,750 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $7.34, for a total value of $27,525.00. Following the sale, the insider now owns 12,313 shares of the company’s stock, valued at $90,377.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Williams purchased 10,000 shares of Mitel Networks Corporation stock in a transaction on Friday, June 9th. The stock was acquired at an average cost of $7.51 per share, for a total transaction of $75,100.00. Following the acquisition, the director now directly owns 220,000 shares of the company’s stock, valued at $1,652,200. The disclosure for this purchase can be found here. Insiders sold 1,294,356 shares of company stock worth $9,395,412 in the last ninety days. Insiders own 16.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in MITL. First Interstate Bank increased its position in shares of Mitel Networks Corporation by 0.7% in the first quarter. First Interstate Bank now owns 42,010 shares of the communications equipment provider’s stock valued at $291,000 after buying an additional 300 shares during the last quarter. UBS Group AG increased its position in shares of Mitel Networks Corporation by 3.6% in the first quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 570 shares during the last quarter. Sei Investments Co. increased its position in shares of Mitel Networks Corporation by 0.3% in the first quarter. Sei Investments Co. now owns 456,025 shares of the communications equipment provider’s stock valued at $3,160,000 after buying an additional 1,470 shares during the last quarter. Stevens Capital Management LP increased its position in shares of Mitel Networks Corporation by 12.1% in the first quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock valued at $117,000 after buying an additional 1,818 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Mitel Networks Corporation by 2.6% in the second quarter. Bank of Montreal Can now owns 124,962 shares of the communications equipment provider’s stock valued at $918,000 after buying an additional 3,156 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors.

Mitel Networks Corporation Company Profile

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. 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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