TD Securities Cuts Mullen Group (MTL) Price Target to C$15.00

Mullen Group (TSE:MTL) had its price target cut by TD Securities from C$16.00 to C$15.00 in a research report report published on Friday. They currently have a hold rating on the stock.

MTL has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on shares of Mullen Group from C$16.00 to C$18.00 and gave the stock an outperform rating in a research report on Friday, July 27th. Canaccord Genuity reduced their price objective on shares of Mullen Group from C$17.50 to C$17.00 in a research report on Tuesday, October 16th. National Bank Financial raised shares of Mullen Group from a sector perform rating to an outperform rating and set a C$17.00 price objective for the company in a research report on Thursday, July 5th. CIBC upped their price objective on shares of Mullen Group from C$17.00 to C$18.00 in a research report on Friday, July 27th. Finally, Cormark raised shares of Mullen Group from a market perform rating to a buy rating and upped their price objective for the stock from C$15.00 to C$19.00 in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of C$17.17.

Shares of TSE:MTL traded down C$0.06 during midday trading on Friday, hitting C$13.97. 314,400 shares of the company’s stock were exchanged, compared to its average volume of 117,171. Mullen Group has a 12 month low of C$13.87 and a 12 month high of C$17.12.

Mullen Group (TSE:MTL) last posted its earnings results on Wednesday, July 25th. The company reported C$0.15 EPS for the quarter, topping the consensus estimate of C$0.10 by C$0.05. Mullen Group had a net margin of 1.81% and a return on equity of 2.17%. The company had revenue of C$295.70 million during the quarter, compared to the consensus estimate of C$286.40 million.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, October 30th.

In other Mullen Group news, Director David Edward Mullen sold 700,000 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of C$15.00, for a total value of C$10,500,000.00.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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