The Brokerages Anticipate Mitel Networks Corp. (MITL) to Post ($0.03) EPS

The Brokerages Anticipate Mitel Networks Corp. (MITL) to Post ($0.03) EPS

Mitel Networks Corp. (NASDAQ:MITL) has received an average broker rating score of 1.20 (Strong Buy) from the five brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. Mitel Networks Corp.’s rating score has improved by 14.3% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a one year consensus target price of $11.92 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given Mitel Networks Corp. an industry rank of 171 out of 265 based on the ratings given to its competitors.

Separately, National Bank Financial restated an “outperform market weight” rating on shares of Mitel Networks Corp. in a research note on Monday, September 26th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Turtle Creek Asset Management Inc. increased its position in Mitel Networks Corp. by 50.1% in the second quarter. Turtle Creek Asset Management Inc. now owns 7,052,027 shares of the company’s stock valued at $44,357,000 after buying an additional 2,354,600 shares during the period. Credit Suisse AG increased its position in shares of Mitel Networks Corp. by 2,867.5% in the second quarter. Credit Suisse AG now owns 2,290,001 shares of the company’s stock valued at $14,404,000 after buying an additional 2,212,831 shares during the last quarter. Guardian Capital LP increased its position in shares of Mitel Networks Corp. by 31.0% in the second quarter. Guardian Capital LP now owns 8,058,837 shares of the company’s stock valued at $50,240,000 after buying an additional 1,905,675 shares during the last quarter. Fiera Capital Corp increased its position in shares of Mitel Networks Corp. by 31.2% in the second quarter. Fiera Capital Corp now owns 4,722,784 shares of the company’s stock valued at $29,511,000 after buying an additional 1,123,120 shares during the last quarter. Finally, Keeley Asset Management Corp increased its position in shares of Mitel Networks Corp. by 20.8% in the second quarter. Keeley Asset Management Corp now owns 5,897,879 shares of the company’s stock valued at $37,098,000 after buying an additional 1,015,927 shares during the last quarter. 83.03% of the stock is owned by institutional investors.

Mitel Networks Corp. (NASDAQ:MITL) opened at 6.80 on Thursday. The firm’s market capitalization is $826.86 million. Mitel Networks Corp. has a one year low of $5.81 and a one year high of $8.90. The stock’s 50 day moving average is $7.30 and its 200 day moving average is $7.10.

Mitel Networks Corp. (NASDAQ:MITL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Mitel Networks Corp. had a negative net margin of 3.91% and a positive return on equity of 12.57%. The company earned $307.20 million during the quarter, compared to analyst estimates of $292.05 million. During the same quarter last year, the business posted $0.18 EPS. Mitel Networks Corp.’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that Mitel Networks Corp. will post $0.63 earnings per share for the current fiscal year.

About Mitel Networks Corp.

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company operates through three segments: Enterprise, Cloud and Mobile. 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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