Mullen Group (TSE:MTL) Price Target Raised to C$29.00 at Scotiabank

Mullen Group (TSE:MTL) had its price objective boosted by Scotiabank from C$24.00 to C$29.00 in a report released on Friday,BayStreet.CA reports. Scotiabank also issued estimates for Mullen Group’s FY2026 earnings at $1.23 EPS and FY2027 earnings at $1.25 EPS.

MTL has been the topic of several other reports. Royal Bank Of Canada upped their target price on Mullen Group from C$23.00 to C$30.00 in a report on Friday. Acumen Capital boosted their target price on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. National Bank Financial boosted their target price on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial increased their price objective on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Desjardins boosted their price objective on Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Mullen Group presently has an average rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Performance

Mullen Group stock opened at C$28.73 on Friday. The stock has a market cap of C$2.76 billion, a PE ratio of 28.17, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59. The business’s 50-day moving average price is C$22.70 and its two-hundred day moving average price is C$19.38. Mullen Group has a 12-month low of C$12.98 and a 12-month high of C$28.78.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. The business had revenue of C$609.30 million during the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a yield of 2.9%. Mullen Group’s dividend payout ratio (DPR) is 82.35%.

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the transaction, the director directly owned 7,562 shares in the company, valued at C$162,583. This trade represents a 31.64% decrease in their position. 6.32% of the stock is owned by corporate insiders.

Mullen Group News Summary

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

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.