What’s Propelling Mitel Networks Corporation (MITL) to Increase So Much?

March 14, 2018 - By Kurt Siggers

The stock of Mitel Networks Corporation (NASDAQ:MITL) is a huge mover today! The stock increased 5.87% or $0.51 during the last trading session, reaching $9.2. About 2.77M shares traded or 116.97% up from the average. Mitel Networks Corporation (NASDAQ:MITL) has risen 10.16% since March 14, 2017 and is uptrending. It has underperformed by 6.54% the S&P500.
The move comes after 5 months positive chart setup for the $1.11 billion company. It was reported on Mar, 14 by Barchart.com. We have $10.03 PT which if reached, will make NASDAQ:MITL worth $99.63M more.

Analysts await Mitel Networks Corporation (NASDAQ:MITL) to report earnings on May, 2. They expect $-0.15 earnings per share, up 6.25 % or $0.01 from last year’s $-0.16 per share. After $-0.01 actual earnings per share reported by Mitel Networks Corporation for the previous quarter, Wall Street now forecasts 1,400.00 % negative EPS growth.

Mitel Networks Corporation (NASDAQ:MITL) Ratings Coverage

Among 4 analysts covering Mitel Networks (NASDAQ:MITL), 2 have Buy rating, 1 Sell and 1 Hold. Therefore 50% are positive. Mitel Networks had 15 analyst reports since August 7, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of MITL in report on Monday, September 25 with “Hold” rating. The firm has “Sell” rating given on Thursday, September 17 by Zacks. The rating was maintained by RBC Capital Markets on Tuesday, July 25 with “Hold”. The stock has “Hold” rating by RBC Capital Markets on Friday, February 16. The stock of Mitel Networks Corporation (NASDAQ:MITL) has “Outperform” rating given on Friday, August 7 by RBC Capital Markets. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, October 9. RBC Capital Markets maintained the shares of MITL in report on Tuesday, November 3 with “Outperform” rating. Canaccord Genuity maintained Mitel Networks Corporation (NASDAQ:MITL) rating on Friday, August 7. Canaccord Genuity has “Buy” rating and $12 target. RBC Capital Markets downgraded it to “Sector Perform” rating and $7.50;10 target in Tuesday, December 20 report. The company was upgraded on Tuesday, August 25 by Zacks.

More news for Mitel Networks Corporation (NASDAQ:MITL) were recently published by: Seekingalpha.com, which released: “Mitel Networks’ (MITL) CEO Richard McBee on Q4 2017 Results – Earnings Call …” on February 22, 2018. Gurufocus.com‘s article titled: “Mitel Networks Corp (MITL) Files 10-K for the Fiscal Year Ended on December 31 …” and published on February 28, 2018 is yet another important article.

Mitel Networks Corporation provides business communications and collaboration software, services, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific regions. The company has market cap of $1.11 billion. It operates through Cloud and Enterprise divisions. It currently has negative earnings. The Cloud segment offers retail cloud services, which include UCC applications, voice and data telecommunications, and desktop devices that provide hosted cloud and related services directly to the end users under the MiCloud brand name.

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