Somewhat Favorable News Coverage Somewhat Unlikely to Affect Mitel Networks (MITL) Stock Price

Media coverage about Mitel Networks (NASDAQ:MITL) (TSE:MNW) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Mitel Networks earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave press coverage about the communications equipment provider an impact score of 45.4705639425659 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

MITL has been the topic of several recent analyst reports. BidaskClub lowered shares of Mitel Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Zacks Investment Research raised shares of Mitel Networks from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. National Bank Financial raised their target price on shares of Mitel Networks from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Royal Bank Of Canada reissued a “hold” rating and issued a $8.50 target price on shares of Mitel Networks in a report on Thursday, November 2nd. Finally, TheStreet downgraded shares of Mitel Networks from a “b” rating to a “c” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.25.

Shares of Mitel Networks (MITL) opened at $7.16 on Friday. Mitel Networks has a one year low of $6.21 and a one year high of $9.13. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 1.94.

In related news, insider Richard D. Mcbee purchased 10,000 shares of Mitel Networks stock in a transaction dated Wednesday, November 8th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the purchase, the insider now owns 268,047 shares in the company, valued at approximately $2,144,376. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Associates L.P. Elliott sold 350,475 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $8.25, for a total transaction of $2,891,418.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 534,644 shares of company stock worth $4,406,479. 16.50% of the stock is currently owned by corporate insiders.

WARNING: This piece of content was originally published by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.thestockobserver.com/2017/12/08/somewhat-favorable-news-coverage-somewhat-unlikely-to-affect-mitel-networks-mitl-stock-price.html.

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)

Receive News & Ratings for Mitel Networks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply