Mitel Networks (MITL) Receiving Somewhat Favorable News Coverage, Analysis Shows

Media coverage about Mitel Networks (NASDAQ:MITL) (TSE:MNW) has been trending somewhat positive this week, Accern Sentiment reports. The research firm ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Mitel Networks earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the communications equipment provider an impact score of 45.2510920538635 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Here are some of the headlines that may have effected Accern’s rankings:

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A number of brokerages have commented on MITL. National Bank Financial downgraded shares of Mitel Networks from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 11th. BidaskClub downgraded shares of Mitel Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. ValuEngine upgraded shares of Mitel Networks from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of Mitel Networks from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, Royal Bank of Canada upped their target price on shares of Mitel Networks from $8.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.50.

Shares of MITL stock opened at $9.54 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market capitalization of $1,155.27, a price-to-earnings ratio of -23.85 and a beta of 2.44. Mitel Networks has a one year low of $6.21 and a one year high of $9.85.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, February 22nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.08. Mitel Networks had a negative net margin of 4.69% and a negative return on equity of 14.20%. The firm had revenue of $355.90 million for the quarter, compared to the consensus estimate of $345.88 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 37.0% on a year-over-year basis. equities analysts forecast that Mitel Networks will post -0.26 EPS for the current fiscal year.

Mitel Networks declared that its board has initiated a share buyback plan on Wednesday, March 7th that allows the company to buyback 61,000,000 outstanding shares. This buyback authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, insider Mahawa Vanessa Touray sold 5,906 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $8.03, for a total transaction of $47,425.18. Following the transaction, the insider now directly owns 352,831 shares in the company, valued at $2,833,232.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Terence H. Matthews sold 6,870 shares of the 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 $57,708.00. Following the transaction, the chairman now owns 59,084 shares in the company, valued at $496,305.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,056,525 shares of company stock worth $8,602,948. Insiders own 5.60% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Mitel Networks (NASDAQ:MITL)

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