This tech company just surpassed 2 million Cloud subscribers. Its analysts’ ratings are one ‘Strong buy’ and three ‘Buys’.
Mitel Networks (MNW.TO)
From Stock Picker’s Digest
Mitel Networks (MNW.TO); TSINetwork Rating: Extra Risk, moved up recently after it announced that it now expects to report earnings per share of $0.27 to $0.28 in the fourth quarter of 2015, on revenue of $330 million to $335 million. The company previously forecast fourth-quarter earnings to a range of $0.22 to $0.27 per share on revenue of $315 million to $340 million.
Mitel is increasingly moving from selling programs that are installed at its customers’ offices to a cloud model, where it keeps its software on its own servers and sells it by subscription. That provides steadier recurring revenue.
The company added 152,000 cloud subscriptions in the 2015 third quarter and now has 1.76 million cloud users, up 69.7% from 1.04 million a year earlier.
Mitel is a buy.
Patrick McKeough, Stock Picker’s Digest, www.tsinetwork.ca, 888-292- 0296, March 2016