Mullen Group (TSE:MTL) Given New C$16.50 Price Target at Raymond James

Mullen Group (TSE:MTL) had its price target reduced by Raymond James from C$17.00 to C$16.50 in a research note published on Friday, BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Mullen Group’s FY2024 earnings at $1.08 EPS, FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

A number of other brokerages have also weighed in on MTL. Cormark boosted their price objective on shares of Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. CIBC lowered their price target on shares of Mullen Group from C$17.00 to C$16.00 and set an outperform rating for the company in a research note on Friday. TD Securities raised their price objective on Mullen Group from C$21.00 to C$22.00 and gave the company a buy rating in a research note on Friday, February 16th. BMO Capital Markets decreased their price objective on Mullen Group from C$16.00 to C$14.50 in a report on Friday. Finally, Scotiabank dropped their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$17.89.

Mullen Group Trading Down 0.2 %

TSE MTL opened at C$13.10 on Friday. 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 stock’s 50-day simple moving average is C$14.68 and its two-hundred day simple moving average is C$14.20. Mullen Group has a twelve month low of C$12.82 and a twelve month high of C$16.43. The company has a market capitalization of C$1.15 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.81 and a beta of 1.79.

Mullen Group (TSE:MTL) last announced 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. The firm had revenue of C$498.60 million for the quarter, compared to analyst estimates of C$500.00 million. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. Research analysts forecast that Mullen Group will post 1.3498623 EPS for the current fiscal year.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, April 29th. This represents a $0.72 annualized dividend and a yield of 5.50%. Mullen Group’s payout ratio is 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.