Mullen Group (TSE:MTL) PT Raised to C$17.50

Mullen Group (TSE:MTL) had its price objective increased by CIBC from C$16.50 to C$17.50 in a report released on Friday morning, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the company. TD Securities decreased their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Cormark raised their target price on shares of 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 upped their price target for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Finally, Raymond James boosted their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Stock Down 1.6 %

Shares of MTL opened at C$15.26 on Friday. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. Mullen Group has a 12 month low of C$12.47 and a 12 month high of C$15.72. The firm’s 50 day moving average is C$14.33 and its 200-day moving average is C$13.78. The stock has a market capitalization of C$1.34 billion, a PE ratio of 11.39, a P/E/G ratio of 1.81 and a beta of 1.82.

Mullen Group (TSE:MTL) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. The firm had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued 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 yield of 5.50%. Mullen Group’s 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.