Brokers Set Expectations for Mullen Group Ltd’s Q1 2018 Earnings (MTL)
Mullen Group Ltd (TSE:MTL) – National Bank Financial lowered their Q1 2018 earnings estimates for Mullen Group in a report issued on Tuesday. National Bank Financial analyst G. Colman now forecasts that the company will earn $0.05 per share for the quarter, down from their previous estimate of $0.09. National Bank Financial currently has a “Outperform” rating and a $16.50 target price on the stock. National Bank Financial also issued estimates for Mullen Group’s Q2 2018 earnings at $0.08 EPS and Q3 2018 earnings at $0.08 EPS.
MTL has been the topic of a number of other research reports. TD Securities reissued a “hold” rating and set a C$18.00 target price on shares of Mullen Group in a research report on Tuesday, October 31st. CIBC cut their target price on shares of Mullen Group from C$19.00 to C$18.00 in a research report on Thursday, December 14th. Industrial Alliance Securities cut their target price on shares of Mullen Group from C$20.00 to C$19.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, December 12th. Canaccord Genuity cut their target price on shares of Mullen Group from C$19.00 to C$18.00 in a research report on Friday, October 27th. Finally, Scotiabank cut their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a “sector perform” rating on the stock in a research report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$16.97.
The firm also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.05 per share. This is an increase from Mullen Group’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, January 30th. This represents a $0.60 dividend on an annualized basis and a yield of 4.10%. Mullen Group’s dividend payout ratio (DPR) is 61.90%.
About Mullen Group
Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.
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