Mullen Group (TSE:MTL) Price Target Cut to C$21.00 by Analysts at TD Securities

Mullen Group (TSE:MTL) had its price objective lowered by TD Securities from C$22.00 to C$21.00 in a research note released on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other research firms also recently weighed in on MTL. Royal Bank of Canada raised their price target on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Raymond James raised their target price on shares of Mullen Group from C$16.50 to C$17.00 in a research report on Friday, July 26th. Cormark boosted their target price on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. CIBC increased their price target on Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. Finally, BMO Capital Markets upgraded Mullen Group from a market perform rating to an outperform rating and boosted their price objective for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$18.22.

Mullen Group Stock Up 0.5 %

TSE MTL opened at C$13.95 on Wednesday. The business has a fifty day moving average price of C$14.04 and a two-hundred day moving average price of C$13.84. The stock has a market capitalization of C$1.22 billion, a PE ratio of 10.41, a PEG ratio of 1.81 and a beta of 1.83. Mullen Group has a fifty-two week low of C$12.47 and a fifty-two week high of C$15.71. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The business had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. Equities analysts expect that Mullen Group will post 1.3508103 earnings per share for the current fiscal year.

Mullen Group Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.02%. This is an increase from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date is Friday, August 30th. Mullen Group’s dividend payout ratio is presently 62.69%.

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.