Royal Bank of Canada Lowers Mullen Group (TSE:MTL) Price Target to C$16.00

Mullen Group (TSE:MTL) had its price target cut by Royal Bank of Canada from C$17.00 to C$16.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on MTL. CIBC decreased their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Friday. TD Securities boosted their price objective on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a buy rating in a research report on Friday, February 16th. Scotiabank reduced their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating on the stock in a report on Friday. Raymond James reduced their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating on the stock in a report on Friday. Finally, National Bankshares reduced their target price on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mullen Group presently has a consensus rating of Moderate Buy and an average price target of C$17.89.

Mullen Group Price Performance

Mullen Group stock opened at C$13.14 on Friday. Mullen Group has a 52 week low of C$12.82 and a 52 week high of C$16.43. The company has a quick ratio of 1.06, a current ratio of 0.76 and a debt-to-equity ratio of 78.38. The firm’s 50-day simple moving average is C$14.61 and its 200 day simple moving average is C$14.20. The firm has a market capitalization of C$1.16 billion, a PE ratio of 9.06, a P/E/G ratio of 1.81 and a beta of 1.79.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, topping 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 analyst estimates of C$500.00 million. On average, equities research analysts predict that Mullen Group will post 1.3498623 EPS for the current fiscal year.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Monday, April 29th. Mullen Group’s dividend payout ratio (DPR) is presently 49.66%.

About Mullen Group

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.