Mitel Networks (NASDAQ:MITL) Receives Media Sentiment Rating of 0.25

Media headlines about Mitel Networks (NASDAQ:MITL) (TSE:MNW) have been trending somewhat positive on Friday, according to Accern. The research firm scores the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Mitel Networks earned a coverage optimism score of 0.25 on Accern’s scale. Accern also assigned news coverage about the communications equipment provider an impact score of 45.9946405204327 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:

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A number of research analysts recently commented on the stock. BidaskClub raised shares of Mitel Networks from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of Mitel Networks from $8.50 to $9.50 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Zacks Investment Research upgraded shares of Mitel Networks from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. GARP Research started coverage on shares of Mitel Networks in a research note on Tuesday, December 19th. They issued a “buy” rating for the company. Finally, Craig Hallum started coverage on shares of Mitel Networks in a research note on Thursday, December 14th. They issued a “buy” rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Mitel Networks currently has a consensus rating of “Buy” and a consensus target price of $12.50.

Shares of MITL stock opened at $9.28 on Friday. Mitel Networks has a 1 year low of $6.21 and a 1 year high of $9.85. The firm has a market cap of $1,139.17, a P/E ratio of -22.63 and a beta of 2.58. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.84 and a current ratio of 1.03.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last announced its earnings results on Thursday, February 22nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping 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 business had revenue of $355.90 million for the quarter, compared to analyst estimates of $345.88 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Mitel Networks’s revenue was up 37.0% compared to the same quarter last year. analysts predict that Mitel Networks will post -0.26 EPS for the current year.

Mitel Networks announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 7th that allows the company to repurchase 61,000,000 outstanding shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CFO Steven Edward Spooner sold 4,100 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $8.40, for a total value of $34,440.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Graham Bevington sold 8,605 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $8.01, for a total transaction of $68,926.05. Following the completion of the sale, the insider now directly owns 29,692 shares in the company, valued at approximately $237,832.92. The disclosure for this sale can be found here. Insiders sold a total of 1,056,525 shares of company stock worth $8,602,948 in the last three months. Insiders own 16.50% of the company’s stock.

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Mitel Networks 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.

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

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