Raymond James Trims Mullen Group (TSE:MTL) Target Price to C$16.50

Mullen Group (TSE:MTL) had its price objective lowered by investment analysts at Raymond James from C$17.00 to C$16.50 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James’ target price indicates a potential upside of 25.95% from the stock’s current price. Raymond James also issued estimates for Mullen Group’s FY2024 earnings at $1.08 EPS, FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

Several other research analysts also recently commented on the stock. Acumen Capital decreased their target price on shares of Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada raised shares of Mullen Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$15.00 to C$17.00 in a research note on Monday, January 22nd. CIBC decreased their target price on shares of Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday. Cormark lifted their target price on shares of Mullen Group from C$19.50 to C$20.00 in a research note on Friday, February 16th. Finally, TD Securities lifted their target price on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Trading Down 0.2 %

MTL stock opened at C$13.10 on Friday. The company has a market capitalization of C$1.15 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. Mullen Group has a one year low of C$12.82 and a one year high of C$16.43. The company’s 50 day moving average price is C$14.64 and its two-hundred day moving average price is C$14.20. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, topping the consensus estimate of C$0.32 by C$0.02. The firm had revenue of C$498.60 million for the quarter, compared to the consensus estimate of C$500.00 million. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. As a group, analysts predict that Mullen Group will post 1.3498623 earnings per share for the current fiscal year.

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.