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

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

MTL has been the subject of several other research reports. 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. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. 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. TD Securities lowered their target price on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of Mullen Group from C$16.00 to C$17.00 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Price Performance

MTL stock opened at C$15.26 on Friday. Mullen Group has a 52 week low of C$12.47 and a 52 week high of C$15.72. The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. The company has a fifty day simple moving average of C$14.33 and a two-hundred day simple moving average of C$13.79. The firm has a market capitalization of C$1.34 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

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

Mullen Group Announces Dividend

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