Is Mitel Networks Corporation (MITL)’s Fuel For Real? The Stock Just Increased Again

April 24, 2018 - By Stephen Andrade

Mitel Networks Corporation (NASDAQ:MITL) Logo

The stock of Mitel Networks Corporation (NASDAQ:MITL) is a huge mover today! The stock increased 9.45% or $0.96 during the last trading session, reaching $11.12. About 21.03M shares traded or 1376.77% up from the average. Mitel Networks Corporation (NASDAQ:MITL) has risen 34.90% since April 24, 2017 and is uptrending. It has outperformed by 23.35% the S&P500.
The move comes after 7 months positive chart setup for the $1.35B company. It was reported on Apr, 24 by We have $11.68 PT which if reached, will make NASDAQ:MITL worth $67.35 million 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 3 analysts covering Mitel Networks (NASDAQ:MITL), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Mitel Networks had 3 analyst reports since December 14, 2017 according to SRatingsIntel. RBC Capital Markets maintained Mitel Networks Corporation (NASDAQ:MITL) on Friday, February 16 with “Hold” rating. National Bank Canada downgraded the shares of MITL in report on Wednesday, April 11 to “Hold” rating.

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 $1.35 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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