News articles about Mitel Networks (NASDAQ:MITL) (TSE:MNW) have trended somewhat positive this week, according to Accern. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Mitel Networks earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave media stories about the communications equipment provider an impact score of 47.2471842476248 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- Brief Overview on Stock’s P/E Ratio – Mitel Networks Corporation (NASDAQ:MITL) (nasdaqjournal.com)
- Stock Move to Focus Mitel Networks Corporation (MITL) stock traded 11170811 shares actively (nasdaqchronicle.com)
- Year-to-date (YTD) in Focus Mitel Networks Corporation (NASDAQ:MITL), Acadia Realty Trust (NYSE:AKR … (stocksnewspoint.com)
- SHAREHOLDER ALERT: Rigrodsky & Long, PA Announces Investigation of Mitel Networks Corporation (businesswire.com)
- Acquisition Of Mitel: It Still Offers A 40% Upside Potential (seekingalpha.com)
Mitel Networks opened at $11.03 on Monday, according to Marketbeat Ratings. Mitel Networks has a 12-month low of $6.56 and a 12-month high of $11.31. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.88 and a current ratio of 1.06. The company has a market capitalization of $1.34 billion, a PE ratio of -27.58 and a beta of 2.45.
Mitel Networks (NASDAQ:MITL) (TSE:MNW) last posted its quarterly earnings results on Wednesday, May 2nd. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.30. The company had revenue of $313.80 million for the quarter, compared to analyst estimates of $309.50 million. Mitel Networks had a negative net margin of 4.31% and a negative return on equity of 14.62%. research analysts predict that Mitel Networks will post -0.26 earnings per share for the current fiscal year.
Mitel Networks declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 7th that permits the company to buyback 61,000,000 shares. This buyback authorization permits the communications equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Several research firms have recently issued reports on MITL. Craig Hallum lowered shares of Mitel Networks from a “buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research report on Tuesday, May 15th. Royal Bank of Canada boosted their price target on shares of Mitel Networks from $9.50 to $11.15 and gave the company a “sector perform” rating in a research report on Wednesday, April 25th. BidaskClub raised shares of Mitel Networks from a “hold” rating to a “buy” rating in a research report on Friday, April 20th. ValuEngine raised shares of Mitel Networks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, National Bank Financial lowered shares of Mitel Networks from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 11th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.05.
In related news, insider Graham Bevington sold 8,605 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $8.01, for a total transaction of $68,926.05. Following the completion of the transaction, the insider now owns 29,692 shares of the company’s stock, valued at $237,832.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Steven Edward Spooner sold 4,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $8.40, for a total transaction of $34,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,056,525 shares of company stock valued at $8,602,948. 5.60% of the stock is owned by corporate insiders.
Mitel Networks Company Profile
Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.
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