Mullen Group (TSE:MTL) PT Lowered to C$21.00 at TD Securities

Mullen Group (TSE:MTL) had its target price reduced by TD Securities from C$22.00 to C$21.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Raymond James increased their price target on Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. Cormark lifted their price target on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. BMO Capital Markets raised Mullen Group from a market perform rating to an outperform rating and lifted their price target for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. Finally, CIBC raised their target price on shares of Mullen Group from C$15.50 to C$16.50 in a 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, the company has an average rating of Moderate Buy and a consensus price target of C$18.22.

Mullen Group Stock Performance

Shares of Mullen Group stock opened at C$14.11 on Wednesday. The firm has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.81 and a beta of 1.83. Mullen Group has a one year low of C$12.47 and a one year high of C$15.71. The business has a 50-day simple moving average of C$14.09 and a 200 day simple moving average of C$13.84. 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 released its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The business had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. On average, research analysts anticipate that Mullen Group will post 1.3508103 earnings per share for the current fiscal year.

Mullen Group Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 5.95%. This is a positive change from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, August 30th. 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.