Mullen Group (TSE:MTL) Price Target Raised to C$17.50

Mullen Group (TSE:MTL) had its price objective increased by CIBC from C$16.50 to C$17.50 in a research report released on Friday morning, BayStreet.CA reports.

MTL has been the subject of several other research reports. Royal Bank of Canada upped their price target on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Cormark increased their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$14.50 to C$17.00 in a report on Friday, July 26th. Raymond James raised their price target on shares of Mullen Group from C$17.25 to C$18.75 in a report on Friday. Finally, TD Securities lowered their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Stock Performance

Shares of MTL opened at C$15.26 on Friday. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The company has a market capitalization of C$1.34 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.81 and a beta of 1.82. The company’s 50 day simple moving average is C$14.33 and its 200 day simple moving average is C$13.79. Mullen Group has a 1 year low of C$12.47 and a 1 year high of C$15.72.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.30 by C$0.07. The business had revenue of C$495.60 million for the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.50%. Mullen Group’s payout ratio is currently 62.69%.

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.