Brokerages Anticipate Mitel Networks Corporation (MITL) to Post $0.29 Earnings Per Share
Analysts predict that Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) will announce earnings per share of $0.29 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Mitel Networks Corporation’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.28. Mitel Networks Corporation reported earnings per share of $0.22 in the same quarter last year, which suggests a positive year over year growth rate of 31.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Mitel Networks Corporation will report full year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.64 to $0.67. For the next fiscal year, analysts forecast that the business will report earnings of $1.04 per share, with EPS estimates ranging from $1.02 to $1.05. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mitel Networks Corporation.
MITL has been the topic of several research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $8.50 price objective on shares of Mitel Networks Corporation in a report on Thursday, November 2nd. TheStreet downgraded Mitel Networks Corporation from a “b” rating to a “c” rating in a report on Tuesday, November 14th. Zacks Investment Research raised Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. National Bank Financial upped their price objective on Mitel Networks Corporation from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Finally, BidaskClub downgraded Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.25.
In related news, insider Richard D. Mcbee purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $8.00 per share, with a total value of $80,000.00. Following the purchase, the insider now directly owns 268,047 shares in the company, valued at approximately $2,144,376. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Associates L.P. Elliott sold 350,475 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $8.25, for a total value of $2,891,418.75. The disclosure for this sale can be found here. In the last three months, insiders sold 972,909 shares of company stock worth $8,030,607. 16.50% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Mitel Networks Corporation in the 2nd quarter valued at $109,000. UBS Group AG lifted its stake in shares of Mitel Networks Corporation by 3.6% in the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 570 shares during the period. Cullen Capital Management LLC acquired a new position in shares of Mitel Networks Corporation in the 2nd quarter valued at $125,000. FDx Advisors Inc. acquired a new position in shares of Mitel Networks Corporation in the 3rd quarter valued at $125,000. Finally, Quantbot Technologies LP acquired a new position in shares of Mitel Networks Corporation in the 2nd quarter valued at $143,000. 76.69% of the stock is currently owned by institutional investors.
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Mitel Networks Corporation (NASDAQ MITL) opened at $7.77 on Tuesday. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $9.13. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94.
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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