Mullen Group (TSE:MTL – Free Report) had its target price trimmed by Scotiabank from C$20.00 to C$19.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Other equities research analysts also recently issued reports about the company. Cormark boosted their target price on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. National Bankshares reduced their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research note on Friday. BMO Capital Markets dropped their target price on shares of Mullen Group from C$16.00 to C$14.50 in a research note on Friday. Acumen Capital decreased their price objective on shares of Mullen Group from C$19.50 to C$19.00 and set a buy rating for the company in a report on Friday, February 16th. Finally, CIBC upgraded Mullen Group from a neutral rating to an outperform rating and boosted their price target for the stock from C$16.50 to C$17.00 in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of C$17.89.
Read Our Latest Analysis on MTL
Mullen Group Trading Down 0.2 %
Mullen Group (TSE:MTL – Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. The business had revenue of C$498.60 million during the quarter, compared to the consensus estimate of C$500.00 million. As a group, sell-side analysts expect that Mullen Group will post 1.3498623 EPS for the current fiscal year.
Mullen Group Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 annualized dividend and a yield of 5.50%. Mullen Group’s payout ratio is 49.66%.
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.
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