CIBC Trims Mullen Group (TSE:MTL) Target Price to C$15.50

Mullen Group (TSE:MTL) had its target price reduced by CIBC from C$16.00 to C$15.50 in a report issued on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research analysts also recently commented on MTL. Raymond James decreased their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating on the stock in a research note on Friday, April 26th. National Bankshares decreased their target price on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a research note on Friday, April 26th. BMO Capital Markets decreased their target price on shares of Mullen Group from C$16.00 to C$14.50 in a research note on Friday, April 26th. Royal Bank of Canada reduced their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Finally, Scotiabank reduced their price objective on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$17.83.

Mullen Group Trading Up 0.1 %

MTL stock opened at C$13.00 on Wednesday. The company has a market capitalization of C$1.14 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.81. Mullen Group has a one year low of C$12.47 and a one year high of C$16.20. The company’s 50 day moving average price is C$12.90 and its two-hundred day moving average price is C$14.01. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, April 25th. The company reported C$0.25 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.05). Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. The firm had revenue of C$462.60 million during the quarter, compared to analysts’ expectations of C$501.00 million. As a group, analysts predict that Mullen Group will post 1.2780488 earnings per share for the current fiscal year.

Mullen Group Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, June 28th. Mullen Group’s dividend payout ratio (DPR) is presently 52.55%.

Insider Activity

In other Mullen Group news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of C$12.90 per share, for a total transaction of C$322,500.00. Company insiders own 6.30% of the company’s stock.

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.