Mitel Networks Corporation (MITL) Getting Somewhat Positive Press Coverage, Report Finds
Media coverage about Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mitel Networks Corporation earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news coverage about the communications equipment provider an impact score of 46.4984682505062 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
MITL has been the subject of several recent research reports. BidaskClub cut Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research raised Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Royal Bank Of Canada increased their price target on Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a research note on Friday, July 28th. TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Finally, National Bank Financial raised Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $7.50 to $10.00 in a research note on Friday, July 28th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.25.
Shares of Mitel Networks Corporation (NASDAQ:MITL) opened at 8.67 on Wednesday. The stock has a 50 day moving average price of $8.26 and a 200 day moving average price of $7.53. The firm’s market cap is $1.03 billion. Mitel Networks Corporation has a 52 week low of $6.21 and a 52 week high of $8.94.
Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. The company had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. During the same quarter in the previous year, the company posted $0.19 EPS. Mitel Networks Corporation’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts expect that Mitel Networks Corporation will post $0.63 earnings per share for the current year.
In related news, major shareholder Associates L.P. Elliott sold 350,475 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $8.25, for a total transaction of $2,891,418.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Terence H. Matthews sold 450,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $8.32, for a total value of $3,744,000.00. Following the transaction, the chairman now owns 40,703 shares in the company, valued at approximately $338,648.96. The disclosure for this sale can be found here. In the last three months, insiders sold 2,065,691 shares of company stock valued at $17,047,744. 16.50% of the stock is currently owned by corporate insiders.
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About Mitel Networks Corporation
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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