News coverage about Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) has trended somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Mitel Networks Corporation earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave headlines about the communications equipment provider an impact score of 44.0790248646986 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s analysis:
- Chairman of the Board of Mitel Networks Corporation (NASDAQ:MITL), Matthews Terence H, sells 1,762 shares worth $14,527 (empowerednews.net)
- Mitel Networks Corporation (NASDAQ:MITL) Lowered to Buy at BidaskClub (americanbankingnews.com)
- Insiders Selling, Short Interest Growing Mitel Networks Corporation (NASDAQ:MITL) – Modern Readers (modernreaders.com)
- Analysts Outlook: Mitel Networks Corp (MITL) – ExpertGazette (expertgazette.com)
- Mitel Networks Corporation (NASDAQ:MITL) Chairman Terence H. Matthews Sells 1,762 Shares (americanbankingnews.com)
A number of analysts recently commented on MITL shares. National Bank Financial cut shares of Mitel Networks Corporation from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 4th. Zacks Investment Research cut shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and set a $7.50 price target on shares of Mitel Networks Corporation in a research note on Tuesday, May 2nd. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Finally, BidaskClub cut shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.25.
Shares of Mitel Networks Corporation (NASDAQ:MITL) opened at 8.20 on Friday. The company’s 50 day moving average is $7.64 and its 200-day moving average is $7.11. Mitel Networks Corporation has a 52 week low of $6.21 and a 52 week high of $8.94. The stock’s market capitalization is $969.63 million.
Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last issued its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share 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 business had revenue of $238.60 million for the quarter, compared to the consensus estimate of $244.55 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts predict that Mitel Networks Corporation will post $0.71 earnings per share for the current year.
In other Mitel Networks Corporation news, Chairman Terence H. Matthews sold 971,900 shares of Mitel Networks Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $7.08, for a total transaction of $6,881,052.00. Following the transaction, the chairman now owns 40,703 shares of the company’s stock, valued at $288,177.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Terence H. Matthews sold 350,000 shares of Mitel Networks Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $8.35, for a total transaction of $2,922,500.00. Following the transaction, the chairman now directly owns 40,703 shares in the company, valued at approximately $339,870.05. The disclosure for this sale can be found here. Insiders have sold 2,115,449 shares of company stock worth $16,243,373 in the last ninety days. Insiders own 16.50% of the company’s stock.
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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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