Raymond James Reiterates C$16.00 Price Target for Mullen Group (TSE:MTL)

Raymond James set a C$16.00 target price on Mullen Group (TSE:MTL) in a research report released on Monday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently commented on MTL. Canaccord Genuity increased their target price on shares of Mullen Group from C$13.50 to C$13.75 in a report on Wednesday, March 20th. TD Securities lowered their target price on shares of Mullen Group from C$14.00 to C$13.50 and set a hold rating for the company in a report on Friday, April 26th. GMP Securities downgraded shares of Mullen Group from a hold rating to a reduce rating and lowered their target price for the company from C$12.00 to C$9.25 in a report on Friday, April 26th. Royal Bank of Canada lowered their target price on shares of Mullen Group from C$15.00 to C$14.00 and set an outperform rating for the company in a report on Friday, April 26th. Finally, National Bank Financial set a C$16.00 target price on shares of Mullen Group and gave the company an outperform rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of C$14.03.

Mullen Group stock opened at C$9.86 on Monday. Mullen Group has a 1-year low of C$9.36 and a 1-year high of C$16.93. The company has a market capitalization of $989.55 million and a price-to-earnings ratio of -30.62. The firm has a fifty day simple moving average of C$9.87. The company has a debt-to-equity ratio of 61.72, a current ratio of 1.82 and a quick ratio of 1.50.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Wednesday, April 24th. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.11 by C($0.01). The business had revenue of C$319.60 million for the quarter, compared to analysts’ expectations of C$304.83 million. As a group, sell-side analysts forecast that Mullen Group will post 0.6600001 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.60 annualized dividend and a dividend yield of 6.09%. Mullen Group’s payout ratio is -170.81%.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

Featured Story: What is the Coverage Ratio?

Analyst Recommendations for Mullen Group (TSE:MTL)

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