Zacks: Brokerages Anticipate Mitel Networks Corp (MITL) Will Post Earnings of $0.35 Per Share

Brokerages expect Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) to report earnings of $0.35 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Mitel Networks’ earnings. Mitel Networks posted earnings of $0.27 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 29.6%. The firm is scheduled to report its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Mitel Networks will report full-year earnings of $0.95 per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of $1.28 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Mitel Networks.

Several analysts have commented on MITL shares. BidaskClub cut Mitel Networks from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Zacks Investment Research cut Mitel Networks from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Finally, ValuEngine upgraded Mitel Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $12.38.

MITL opened at $10.98 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.77. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -27.45 and a beta of 2.00. Mitel Networks has a 12 month low of $7.13 and a 12 month high of $11.31.

In other Mitel Networks news, Director Peter Charbonneau sold 4,668 shares of Mitel Networks stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $10.98, for a total value of $51,254.64. Following the completion of the sale, the director now owns 59,969 shares in the company, valued at approximately $658,459.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Ball sold 21,250 shares of Mitel Networks stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $10.97, for a total value of $233,112.50. Following the completion of the sale, the director now owns 51,125 shares of the company’s stock, valued at approximately $560,841.25. The disclosure for this sale can be found here. Insiders sold a total of 27,237 shares of company stock valued at $298,837 in the last 90 days. 5.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MITL. BlackRock Inc. lifted its stake in shares of Mitel Networks by 5.4% in the 1st quarter. BlackRock Inc. now owns 207,626 shares of the communications equipment provider’s stock valued at $1,926,000 after purchasing an additional 10,620 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Mitel Networks by 1,031.0% in the 1st quarter. Allianz Asset Management GmbH now owns 197,245 shares of the communications equipment provider’s stock valued at $1,831,000 after purchasing an additional 179,805 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of Mitel Networks in the 1st quarter valued at about $235,000. Xact Kapitalforvaltning AB acquired a new position in shares of Mitel Networks in the 2nd quarter valued at about $259,000. Finally, Bank of Montreal Can acquired a new position in shares of Mitel Networks in the 2nd quarter valued at about $1,979,000. Institutional investors own 80.49% of the company’s stock.

About Mitel Networks

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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