Mullen Group (MTL) Price Target Cut to C$15.75 by Analysts at Canaccord Genuity

Mullen Group (TSE:MTL) had its price target decreased by Canaccord Genuity from C$16.00 to C$15.75 in a research note released on Wednesday.

Other analysts have also issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Mullen Group from C$19.00 to C$18.00 in a research report on Friday, February 9th. Scotiabank dropped their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a sector perform rating on the stock in a research report on Thursday, December 14th. CIBC dropped their target price on shares of Mullen Group from C$19.00 to C$18.00 in a research report on Thursday, December 14th. National Bank Financial upgraded shares of Mullen Group from a sector perform rating to an outperform rating and set a C$16.50 target price on the stock in a research report on Thursday, February 8th. Finally, Raymond James Financial dropped their target price on shares of Mullen Group from C$15.75 to C$14.70 and set a market perform rating on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of C$16.94.

MTL stock opened at C$15.30 on Wednesday. Mullen Group has a one year low of C$14.10 and a one year high of C$17.62.



Mullen Group (TSE:MTL) last released its quarterly earnings results on Wednesday, February 7th. The company reported C$0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.12 by C($0.04). The firm had revenue of C$296.10 million for the quarter, compared to analyst estimates of C$282.10 million. Mullen Group had a net margin of 1.81% and a return on equity of 2.17%.

The business also recently announced a monthly dividend, which will be paid on Monday, April 16th. Stockholders of record on Saturday, March 31st will be given a $0.05 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 3.92%.

In other Mullen Group news, insider Richard James Maloney purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were purchased at an average cost of C$14.70 per share, for a total transaction of C$36,750.00. Also, Director Christine Ellen Mcginley purchased 1,825 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average price of C$14.71 per share, for a total transaction of C$26,845.75.

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Mullen Group Company Profile

Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.

Analyst Recommendations for Mullen Group (TSE:MTL)

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