Scotiabank Trims Mullen Group (TSE:MTL) Target Price to C$19.00

Mullen Group (TSE:MTL) had its target price trimmed by Scotiabank from C$20.00 to C$19.00 in a report issued on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also weighed in on MTL. Royal Bank of Canada raised Mullen Group from a sector perform rating to an outperform rating and upped their price objective for the stock from C$15.00 to C$17.00 in a research note on Monday, January 22nd. National Bankshares dropped their price objective on Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research note on Friday. BMO Capital Markets dropped their price objective on Mullen Group from C$16.00 to C$14.50 in a research note on Friday. CIBC raised Mullen Group from a neutral rating to an outperform rating and upped their price objective for the stock from C$16.50 to C$17.00 in a research note on Friday, February 16th. Finally, TD Securities upped their price objective on Mullen Group from C$21.00 to C$22.00 and gave the stock a buy rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Mullen Group presently has an average rating of Moderate Buy and a consensus price target of C$17.89.

Mullen Group Trading Up 0.3 %

Shares of TSE:MTL opened at C$13.14 on Friday. The company has a market cap of C$1.16 billion, a P/E ratio of 9.06, a PEG ratio of 1.81 and a beta of 1.79. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06. Mullen Group has a 1 year low of C$12.82 and a 1 year high of C$16.43. The stock’s fifty day moving average price is C$14.61 and its 200-day moving average price is C$14.20.

Mullen Group (TSE:MTL) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. The company had revenue of C$498.60 million during the quarter, compared to analysts’ expectations of C$500.00 million. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. Sell-side analysts expect that Mullen Group will post 1.3498623 earnings per share for the current year.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, April 29th. Mullen Group’s payout ratio is 49.66%.

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.