Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on MITL. Royal Bank Of Canada reaffirmed a “hold” rating and set a $7.50 target price on shares of Mitel Networks Corporation in a report on Tuesday, May 2nd. National Bank Financial lowered Mitel Networks Corporation from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 4th. Zacks Investment Research lowered Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.25.

Shares of Mitel Networks Corporation (MITL) opened at 8.20 on Friday. Mitel Networks Corporation has a 52-week low of $6.21 and a 52-week high of $8.94. The company’s 50-day moving average is $7.64 and its 200 day moving average is $7.11. The company’s market cap is $969.63 million.

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

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In other news, insider Thomas Gerald Lokar sold 18,736 shares of Mitel Networks Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $8.64, for a total transaction of $161,879.04. Following the completion of the sale, the insider now owns 14,752 shares in the company, valued at approximately $127,457.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David M. Williams purchased 10,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were acquired at an average price of $7.51 per share, with a total value of $75,100.00. Following the transaction, the director now owns 220,000 shares in the company, valued at approximately $1,652,200. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 2,115,449 shares of company stock valued at $16,243,373. Corporate insiders own 16.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its stake in shares of Mitel Networks Corporation by 47.7% in the first quarter. Toronto Dominion Bank now owns 19,827 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 6,401 shares during the period. TFS Capital LLC acquired a new stake in shares of Mitel Networks Corporation during the first quarter worth about $728,000. Engineers Gate Manager LP increased its stake in shares of Mitel Networks Corporation by 100.1% in the first quarter. Engineers Gate Manager LP now owns 54,910 shares of the communications equipment provider’s stock worth $381,000 after buying an additional 27,467 shares during the period. Sei Investments Co. increased its stake 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 worth $3,160,000 after buying an additional 1,470 shares during the period. Finally, Teton Advisors Inc. acquired a new stake in shares of Mitel Networks Corporation during the first quarter worth about $379,000. Hedge funds and other institutional investors own 78.92% of the company’s stock.

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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