What's Propelling Mitel Networks Corporation (MITL) to Reach 52-Week High?


Since April 20, 2017 MITL has risen 34.90% and is uptrending.

On a weekly basis, the stock is -2.29%.

Among 3 analysts covering Mitel Networks (NASDAQ:MITL), 1 have Buy rating, 0 Sell and 2 Hold. Royal Bank of Canada boosted their target price on shares of Mitel Networks from $8.50 to $9.50 and gave the company a "sector perform" rating in a research report on Friday, February 16th. Craig Hallum started coverage on shares of Mitel Networks in a research report on Thursday, December 14th. As per Tuesday, August 25, the company rating was upgraded by Zacks. Argus Research maintained the shares of D in report on Thursday, December 10 with "Buy" rating. For the Current month, 2 analysts have assigned this stock as Buy where 5 assigned Outperform, 6 analysts believe it's a Hold, 2 said Underperform and only 0 assigned Sell rating. Brokerage firms on the street have price targets on the name ranging from $9.5 to $15 based on 6 opinions. Overall, 723014 shares exchanged hands versus its average volume of $844.58 Million. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market cap of $1.23 Billion. The stock tapped a 52-week high of US$10.21 while the mean 12-month price target for the shares is US$12.08. The stock of Mitel Networks Corporation (NASDAQ:MITL) has "Outperform" rating given on Friday, October 9 by RBC Capital Markets. The communications equipment provider reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.08. The business had revenue of $355.90 million for the quarter, compared to analyst estimates of $345.88 million. Mitel Networks had a negative net margin of 4.69% and a negative return on equity of 14.20%. One obvious showing off to identify high earnings per portion count together companies are to locate companies that have demonstrated such build up beyond the p.s. 5 to 10 years.

Analysts are expecting average earnings estimates of $0.1 for the current quarter based on the opinion of 4 analysts, relating to high earnings per share estimates of $0.11 and low estimates of $0.08, however Mitel Networks Corp (NASDAQ:MITL) reported $0.09 earnings per share for the same quarter a year ago.

Mitel Networks declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 7th that permits the company to repurchase 61,000,000 shares. This repurchase authorization allows the communications equipment provider to purchase shares of its stock through open market purchases.

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ROA ratio indicates how profitable a company is relative to its total assets.

In other news, Chairman Terence H. Matthews sold 843,397 shares of Mitel Networks stock in a transaction that occurred on Wednesday, March 7th. The institutional investor held 475,444 shares of the semiconductors company at the end of 2017Q4, valued at $4.14 million, down from 623,639 at the end of the previous reported quarter. The rating was upgraded by Zacks to "Sell" on Tuesday, August 18.

Institutional Ownership/ Insider Ownership: Mitel Networks Corporation institutional ownership is held at 87.4% while insider ownership was 1.2%. The disclosure for this sale can be found here. Mitel Networks earned a news impact score of 0.17 on Accern's scale. The stock was sold at an average price of $8.03, for a total value of $47,425.18.

Cooke & Bieler Lp, which manages about $4.81B and $5.53B US Long portfolio, decreased its stake in Jp Morgan Chase (NYSE:JPM) by 30,997 shares to 1.10M shares, valued at $117.52M in 2017Q4, according to the filing. OxFORD Asset Management LLP now owns 762,620 shares of the communications equipment provider's stock valued at $6,334,000 after purchasing an additional 685,592 shares during the period.

Sumitomo Mitsui Financial Group, Inc. Wells Fargo & Company MN raised its position in Mitel Networks by 90.0% during the fourth quarter. When we look at the Volatility of the company, Week Volatility is at 3.06% whereas Month Volatility is at 3.09%. Mitel Networks Corp (NASDAQ:MITL)'s price to earnings ratio stood at 0. Following the completion of the transaction, the insider now owns 29,692 shares of the company's stock, valued at $237,832.92. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and worldwide copyright & trademark law.