Mullen Group (TSE:MTL – Free Report) had its target price trimmed by CIBC from C$17.00 to C$16.00 in a research report sent to investors on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.
Several other equities research analysts also recently commented on the company. Royal Bank of Canada raised Mullen Group from a sector perform rating to an outperform rating and upped their target price for the company from C$15.00 to C$17.00 in a report on Monday, January 22nd. Acumen Capital dropped their price objective 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. Scotiabank decreased their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research note on Friday. TD Securities boosted their price target on shares of Mullen Group from C$21.00 to C$22.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, BMO Capital Markets reduced their price objective on Mullen Group from C$16.00 to C$14.50 in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$17.89.
Mullen Group Trading Down 0.2 %
Mullen Group (TSE:MTL – Get Free Report) last issued its quarterly 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 company had revenue of C$498.60 million during the quarter, compared to the consensus estimate of C$500.00 million. On average, equities analysts forecast that Mullen Group will post 1.3498623 EPS for the current fiscal year.
Mullen Group Announces Dividend
The firm 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 dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 5.50%. The ex-dividend date is Monday, April 29th. 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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