$0.25 Earnings Per Share Expected for Mitel Networks Corp (MITL) This Quarter

Wall Street analysts expect Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) to report $0.25 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Mitel Networks’ earnings. Mitel Networks reported earnings of $0.16 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 56.3%. The business is expected to report its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Mitel Networks will report full-year earnings of $0.95 per share for the current financial year. For the next fiscal year, analysts expect that the firm will report earnings of $1.28 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Mitel Networks.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last announced its earnings results on Wednesday, August 1st. The communications equipment provider reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. Mitel Networks had a negative net margin of 2.76% and a negative return on equity of 9.58%. The business had revenue of $324.70 million during the quarter.

A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Mitel Networks from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. ValuEngine raised shares of Mitel Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.05.

In other news, Director Peter Charbonneau sold 10,460 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $11.01, for a total transaction of $115,164.60. Following the sale, the director now owns 60,346 shares in the company, valued at $664,409.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Benjamin Ball sold 21,250 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $10.97, for a total transaction of $233,112.50. Following the sale, the director now owns 51,125 shares in the company, valued at approximately $560,841.25. The disclosure for this sale can be found here. Insiders have sold 43,019 shares of company stock valued at $472,596 in the last ninety days. Insiders own 5.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Paulson & CO. Inc. purchased a new stake in shares of Mitel Networks during the second quarter valued at approximately $43,880,000. Capital Fund Management S.A. purchased a new stake in shares of Mitel Networks during the second quarter valued at approximately $7,022,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Mitel Networks during the second quarter valued at approximately $30,632,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Mitel Networks during the second quarter valued at approximately $6,389,000. Finally, BlackRock Inc. grew its holdings in shares of Mitel Networks by 5.4% during the first quarter. BlackRock Inc. now owns 207,626 shares of the communications equipment provider’s stock valued at $1,926,000 after buying an additional 10,620 shares during the last quarter. Hedge funds and other institutional investors own 80.65% of the company’s stock.

Shares of NASDAQ MITL traded down $0.02 on Friday, reaching $11.00. 293,389 shares of the company’s stock traded hands, compared to its average volume of 1,687,343. Mitel Networks has a 12 month low of $7.13 and a 12 month high of $11.31. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -27.50 and a beta of 2.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.87 and a current ratio of 1.05.

Mitel Networks Company Profile

Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.

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