National Bank Financial upgraded shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) from a sector perform rating to an outperform rating in a research note released on Friday morning. National Bank Financial currently has $10.00 price objective on the communications equipment provider’s stock, up from their prior price objective of $7.50.

Several other research firms also recently commented on MITL. Zacks Investment Research downgraded shares of Mitel Networks Corporation from a hold rating to a strong sell rating in a report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a hold rating and issued a $7.50 price objective on shares of Mitel Networks Corporation in a report on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of Mitel Networks Corporation from a buy rating to a hold rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $9.25.

Mitel Networks Corporation (NASDAQ:MITL) traded up 2.35% on Friday, reaching $8.72. 336,117 shares of the company’s stock traded hands. Mitel Networks Corporation has a 12-month low of $6.21 and a 12-month high of $8.72. The stock has a 50 day moving average price of $7.35 and a 200 day moving average price of $7.02. The stock’s market cap is $1.03 billion.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.14. The business had revenue of $238.60 million for the quarter, compared to the consensus estimate of $244.55 million. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.42%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Analysts forecast that Mitel Networks Corporation will post $0.68 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was first posted by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.watchlistnews.com/mitel-networks-corporation-nasdaqmitl-upgraded-by-national-bank-financial-to-outperform/1465806.html.

In other news, Director David M. Williams bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average cost of $7.51 per share, for a total transaction of $75,100.00. Following the purchase, the director now directly owns 220,000 shares in the company, valued at approximately $1,652,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard D. Mcbee sold 50,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $8.14, for a total transaction of $407,000.00. Following the completion of the transaction, the insider now owns 317,647 shares of the company’s stock, valued at $2,585,646.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,164,356 shares of company stock valued at $8,309,912. Company insiders own 16.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC purchased a new position in Mitel Networks Corporation during the second quarter valued at about $109,000. UBS Group AG boosted its position in Mitel Networks Corporation by 3.6% in the first quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 570 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Mitel Networks Corporation by 146.4% in the first quarter. Tower Research Capital LLC TRC now owns 12,595 shares of the communications equipment provider’s stock valued at $115,000 after buying an additional 7,483 shares in the last quarter. Stevens Capital Management LP boosted its position in Mitel Networks Corporation by 12.1% in the first quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock valued at $117,000 after buying an additional 1,818 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Mitel Networks Corporation by 47.7% in the first quarter. Toronto Dominion Bank now owns 19,827 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 6,401 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Mitel Networks Corporation Company Profile

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.

Receive News & Ratings for Mitel Networks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.