Mullen Group (TSE:MTL) Price Target Increased to C$18.75 by Analysts at Raymond James

Mullen Group (TSE:MTL) had its price objective lifted by Raymond James from C$17.25 to C$18.75 in a research note released on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. CIBC upped their target price on Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. TD Securities cut their target price 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. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$14.50 to C$17.00 in a research report on Friday, July 26th. Finally, Cormark upped their target price on Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$18.86.

Mullen Group Stock Performance

Shares of MTL stock opened at C$15.26 on Friday. The business’s fifty day simple moving average is C$14.33 and its 200-day simple moving average is C$13.79. The company has a market cap of C$1.34 billion, a PE ratio of 11.39, a PEG ratio of 1.81 and a beta of 1.82. 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.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of C$490.50 million.

Mullen Group Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Thursday, October 31st. Mullen Group’s payout ratio is currently 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.