Mitel Networks (NASDAQ:MITL) Getting Positive Press Coverage, Accern Reports

Media coverage about Mitel Networks (NASDAQ:MITL) (TSE:MNW) has trended positive on Wednesday, Accern Sentiment Analysis reports. The research firm scores the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mitel Networks earned a media sentiment score of 0.27 on Accern’s scale. Accern also assigned media coverage about the communications equipment provider an impact score of 45.3558187128452 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:

Mitel Networks (NASDAQ MITL) traded up $0.51 during mid-day trading on Wednesday, reaching $9.20. The company’s stock had a trading volume of 2,797,718 shares, compared to its average volume of 1,355,174. Mitel Networks has a 52 week low of $6.21 and a 52 week high of $9.39. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $1,042.94, a P/E ratio of -22.44 and a beta of 2.58.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last posted its quarterly earnings data on Thursday, February 22nd. The communications equipment provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.08. Mitel Networks had a negative return on equity of 14.20% and a negative net margin of 4.69%. The firm had revenue of $355.90 million for the quarter, compared to the consensus estimate of $345.88 million. During the same quarter last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. sell-side analysts anticipate that Mitel Networks will post -0.26 EPS for the current year.

Mitel Networks declared that its board has approved a stock repurchase program on Wednesday, March 7th that authorizes the company to repurchase 61,000,000 outstanding shares. This repurchase authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

MITL has been the topic of several recent analyst reports. TheStreet cut Mitel Networks from a “b” rating to a “c” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised Mitel Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 5th. BidaskClub cut Mitel Networks from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Craig Hallum assumed coverage on Mitel Networks in a research report on Thursday, December 14th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, GARP Research assumed coverage on Mitel Networks in a report on Tuesday, December 19th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.50.

In related news, insider Mahawa Vanessa Touray sold 5,906 shares of Mitel Networks stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $8.03, for a total transaction of $47,425.18. Following the sale, the insider now owns 352,831 shares of the company’s stock, valued at approximately $2,833,232.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Terence H. Matthews sold 6,870 shares of Mitel Networks stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $8.40, for a total value of $57,708.00. Following the sale, the chairman now directly owns 59,084 shares in the company, valued at approximately $496,305.60. The disclosure for this sale can be found here. Insiders sold 1,056,525 shares of company stock worth $8,602,948 in the last ninety days. Corporate insiders own 16.50% of the company’s stock.

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About Mitel Networks

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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