Mullen Group (TSE:MTL) Price Target Cut to C$19.00 by Analysts at Scotiabank

Mullen Group (TSE:MTL) had its target price decreased by Scotiabank from C$20.00 to C$19.00 in a report released on Friday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. Acumen Capital cut their price target on Mullen Group from C$19.50 to C$19.00 and set a buy rating on the stock in a research report on Friday, February 16th. National Bankshares dropped their target price on Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a report on Friday. Raymond James boosted their price target on Mullen Group from C$16.00 to C$17.00 and gave the company a market perform rating in a report on Friday, February 16th. Royal Bank of Canada upgraded Mullen Group from a sector perform rating to an outperform rating and upped their price objective for the stock from C$15.00 to C$17.00 in a research report on Monday, January 22nd. Finally, CIBC raised shares of Mullen Group from a neutral rating to an outperform rating and lifted their target price for the company from C$16.50 to C$17.00 in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$17.89.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$13.10 on Friday. Mullen Group has a twelve month low of C$12.82 and a twelve month high of C$16.43. The company has a current ratio of 0.76, a quick ratio of 1.06 and a debt-to-equity ratio of 78.38. The company has a market cap of C$1.15 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The company’s 50 day moving average is C$14.68 and its 200 day moving average is C$14.20.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, beating the consensus estimate of C$0.32 by C$0.02. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. The business had revenue of C$498.60 million for the quarter, compared to the consensus estimate of C$500.00 million. On average, sell-side analysts forecast that Mullen Group will post 1.3498623 EPS for the current year.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 5.50%. The ex-dividend date is Monday, April 29th. Mullen Group’s payout ratio is presently 49.66%.

Mullen Group Company Profile

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.