Scotiabank Issues Positive Outlook for Mullen Group Earnings

Mullen Group Ltd. (TSE:MTL) – Stock analysts at Scotiabank lifted their FY2026 EPS estimates for Mullen Group in a note issued to investors on Monday, November 2nd. Scotiabank analyst K. Gupta now forecasts that the company will earn $1.51 per share for the year, up from their prior estimate of $1.32. Scotiabank has a “Sector Perform” rating and a $30.00 price objective on the stock. Scotiabank also issued estimates for Mullen Group’s FY2027 earnings at $1.69 EPS.

MTL has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Scotia boosted their target price on Mullen Group from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. National Bank Financial boosted their target price on Mullen Group from C$31.00 to C$36.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Raymond James Financial increased their target price on Mullen Group from C$25.00 to C$31.00 and gave the stock a “market perform” rating in a research note on Friday, October 23rd. Finally, Desjardins lifted their price target on Mullen Group from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$30.22.

Mullen Group Stock Performance

Shares of MTL opened at C$29.55 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.18 and a debt-to-equity ratio of 86.15. The business’s 50 day moving average price is C$27.03 and its 200-day moving average price is C$22.25. Mullen Group has a 52 week low of C$13.92 and a 52 week high of C$32.47. The stock has a market cap of C$2.83 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.81 and a beta of 0.82.

Mullen Group (TSE:MTL) last announced its earnings results on Thursday, October 22nd. The company reported C$0.52 earnings per share for the quarter. Mullen Group had a net margin of 5.25% and a return on equity of 10.58%. The business had revenue of C$653.17 million during the quarter.

Insider Buying and Selling

In other Mullen Group news, insider Joanna Kathryn Scott sold 40,000 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of C$29.68, for a total transaction of C$1,187,200.00. Following the sale, the insider directly owned 5,000 shares in the company, valued at approximately C$148,400. This trade represents a 88.89% decrease in their position. Corporate insiders own 6.32% of the company’s stock.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.