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Mitel Networks (MITL) Soars: Stock Adds 9.4% in Session

Zacks Equity Research
Updated

Mitel Networks Corporation MITL was a big mover last session, as the company saw its shares rise over 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent trend for the company—as the stock is now up 18% in the past one-month time frame.

The shares rose after the company signed a definitive arrangement agreement to be acquired by an investor group led by affiliates of Searchlight Capital Partners, L.P.

The company has seen no estimate revisions over the past one month, and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future. 

Mitel Networks currently has a Zacks Rank #3 (Hold) while its Earnings ESP  is 0.00%.

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Mitel Networks Corporation Price and Consensus

Mitel Networks Corporation Price and Consensus | Mitel Networks Corporation Quote

A better-ranked stock in the Wireless Equipment industry is Comtech Telecommunications Corp. CMTL, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is MITL going up? Or down? Predict to see what others think: Up or Down

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Comtech Telecommunications Corp. (CMTL) : Free Stock Analysis Report
 
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