Mullen Group (TSE:MTL) Price Target Raised to C$19.00

Mullen Group (TSE:MTL) had its price objective upped by Scotiabank from C$18.50 to C$19.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Other research analysts have also issued reports about the stock. National Bank Financial raised their target price on shares of Mullen Group from C$16.50 to C$19.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Desjardins raised their target price on shares of Mullen Group from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Mullen Group from C$15.00 to C$17.00 in a research note on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$18.00.

Mullen Group Stock Performance

TSE:MTL opened at C$18.34 on Thursday. Mullen Group has a 1 year low of C$11.89 and a 1 year high of C$18.35. The firm’s fifty day simple moving average is C$17.02 and its 200 day simple moving average is C$15.76. The company has a current ratio of 2.17, a quick ratio of 1.06 and a debt-to-equity ratio of 111.51. The firm has a market capitalization of C$1.76 billion, a PE ratio of 18.34, a PEG ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL) last posted its earnings results on Thursday, February 12th. The company reported C$0.15 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 4.27% and a return on equity of 8.68%. The business had revenue of C$533.88 million for the quarter.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 4.6%. Mullen Group’s dividend payout ratio is 84.00%.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.