Media stories about Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) have trended somewhat positive recently, according to Accern. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Mitel Networks Corporation earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave press coverage about the communications equipment provider an impact score of 46.4984682505062 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
Shares of Mitel Networks Corporation (NASDAQ MITL) opened at 8.68 on Friday. The stock has a 50 day moving average price of $8.38 and a 200-day moving average price of $7.64. The stock’s market cap is $1.03 billion. Mitel Networks Corporation has a 12 month low of $6.21 and a 12 month high of $9.13.
Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. The company had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, analysts forecast that Mitel Networks Corporation will post $0.63 EPS for the current fiscal year.
Several brokerages recently issued reports on MITL. National Bank Financial lifted their price objective on Mitel Networks Corporation from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday. BidaskClub cut Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Zacks Investment Research raised Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Royal Bank Of Canada raised their price target on Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research report on Friday, July 28th. Finally, TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $11.25.
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In other news, insider Thomas Gerald Lokar sold 18,736 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $8.64, for a total value of $161,879.04. Following the transaction, the insider now directly owns 14,752 shares of the company’s stock, valued at $127,457.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Associates L.P. Elliott sold 350,475 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $8.25, for a total transaction of $2,891,418.75. The disclosure for this sale can be found here. Insiders sold 1,935,691 shares of company stock valued at $16,059,944 in the last 90 days. Corporate insiders own 16.50% of the company’s stock.
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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