Canaccord Genuity Maintains a 'Hold' on Mitel (MITL); Slow and Steady Turn?
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Price: $11.15 --0%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Mitel (NASDAQ: MITL), PT $6.
Canaccord analyst, Paul H. Mansky, said, "Valuation is attractive but transition risk associated with US sales and channel realignment, coupled with the general industry move from hardware- to software-centric products, leaves heightened estimate risk over the next several quarters."
"July guidance calls for revenue of $158-162M, seasonally down Q/Q and flat Y/Y at the midpoint. Gross margin is expected to be 47.8-48.2%, with the opex range inched up 80bp, leaving EBIT margin at 8.4% vs. 10.8% last year. We are modeling $159M and $0.14 (unchanged from prior estimates) vs. consensus of $162M/$0.15. For FYE April ’12 we are modeling $644M/$0.79 (unchanged) vs. consensus of $669M/$0.74."
For more ratings news on Mitel click here and for the rating history of Mitel click here.
Shares of Mitel closed at $4.38 yesterday.
Canaccord analyst, Paul H. Mansky, said, "Valuation is attractive but transition risk associated with US sales and channel realignment, coupled with the general industry move from hardware- to software-centric products, leaves heightened estimate risk over the next several quarters."
"July guidance calls for revenue of $158-162M, seasonally down Q/Q and flat Y/Y at the midpoint. Gross margin is expected to be 47.8-48.2%, with the opex range inched up 80bp, leaving EBIT margin at 8.4% vs. 10.8% last year. We are modeling $159M and $0.14 (unchanged from prior estimates) vs. consensus of $162M/$0.15. For FYE April ’12 we are modeling $644M/$0.79 (unchanged) vs. consensus of $669M/$0.74."
For more ratings news on Mitel click here and for the rating history of Mitel click here.
Shares of Mitel closed at $4.38 yesterday.
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