What’s Mitel Networks Corporation (MITL) Upside After Today’s Huge Increase?

March 14, 2018 - By Hazel Jackson

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 EPS, up 6.25 % or $0.01 from last year’s $-0.16 per share. After $-0.01 actual EPS 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. The rating was downgraded by Zacks on Thursday, September 17 to “Sell”. The stock has “Sell” rating by Zacks on Tuesday, August 18. The stock has “Hold” rating by RBC Capital Markets on Friday, February 16. The firm earned “Hold” rating on Tuesday, July 25 by RBC Capital Markets. The firm has “Hold” rating given on Monday, September 25 by RBC Capital Markets. The company was upgraded on Tuesday, August 25 by Zacks. RBC Capital Markets downgraded the shares of MITL in report on Tuesday, December 20 to “Sector Perform” rating. National Bank Canada upgraded the shares of MITL in report on Thursday, July 27 to “Buy” rating. The firm has “Outperform” rating given on Friday, October 9 by RBC Capital Markets. Canaccord Genuity maintained it with “Buy” rating and $12 target in Friday, August 7 report.

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