Mullen Group (TSE:MTL) Price Target Raised to C$17.50 at CIBC

Mullen Group (TSE:MTL) had its price objective boosted by CIBC from C$16.50 to C$17.50 in a research note published on Friday, BayStreet.CA reports.

Several other analysts have also recently weighed in on MTL. Cormark boosted their price target on Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$14.50 to C$17.00 in a research note on Friday, July 26th. Raymond James increased their price objective on Mullen Group from C$17.25 to C$18.75 in a report on Friday. Royal Bank of Canada upped their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Finally, TD Securities cut their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Stock Down 0.9 %

Shares of TSE:MTL opened at C$15.12 on Friday. Mullen Group has a 52-week low of C$12.47 and a 52-week high of C$15.72. The company has a market capitalization of C$1.33 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The company has a fifty day moving average of C$14.35 and a 200-day moving average of C$13.78.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.56%. Mullen Group’s payout ratio is presently 62.69%.

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.