BMO Capital Markets Raises Mullen Group (TSE:MTL) Price Target to C$20.00

Mullen Group (TSE:MTL) had its price objective boosted by BMO Capital Markets from C$17.00 to C$20.00 in a research note published on Friday morning, BayStreet.CA reports.

A number of other brokerages have also recently commented on MTL. Cormark upped their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. CIBC increased their target price on Mullen Group from C$16.50 to C$17.50 in a research report on Friday. TD Securities reduced their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada increased their price objective on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Finally, Raymond James lifted their target price on Mullen Group from C$17.25 to C$18.75 in a report on Friday. One analyst has 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 a consensus rating of “Moderate Buy” and a consensus target price of C$18.86.

Mullen Group Trading Down 1.6 %

TSE MTL opened at C$15.26 on Friday. The business’s fifty day moving average is C$14.33 and its 200-day moving average is C$13.78. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The stock 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. Mullen Group has a one year low of C$12.47 and a one 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 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.07. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The business had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid 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 dividend payout ratio (DPR) is 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.