Mullen Group Ltd (TSE:MTL) Receives C$12.19 Consensus Target Price from Analysts

Mullen Group Ltd (TSE:MTL) has been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$12.19.

A number of equities analysts recently weighed in on the stock. TD Securities boosted their price target on shares of Mullen Group from C$13.50 to C$15.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Canaccord Genuity lowered their price target on shares of Mullen Group from C$10.50 to C$10.00 in a research report on Friday, August 16th. BMO Capital Markets lowered their price target on shares of Mullen Group from C$12.00 to C$11.00 in a research report on Tuesday, September 10th. CIBC lowered their price target on shares of Mullen Group from C$15.00 to C$14.50 in a research report on Tuesday, October 15th. Finally, National Bank Financial lowered shares of Mullen Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$13.00 to C$11.00 in a research report on Thursday, August 15th.

MTL traded down C$0.04 on Thursday, reaching C$8.53. 153,000 shares of the company’s stock were exchanged, compared to its average volume of 301,957. The stock has a market cap of $919.32 million and a PE ratio of -52.01. Mullen Group has a twelve month low of C$7.30 and a twelve month high of C$13.37. The stock’s fifty day moving average price is C$8.20 and its 200-day moving average price is C$9.25. The company has a debt-to-equity ratio of 67.37, a current ratio of 2.92 and a quick ratio of 2.51.

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.05 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.60 annualized dividend and a yield of 7.03%. Mullen Group’s payout ratio is -365.85%.

About Mullen Group

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.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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