Analysts Issue Forecasts for Mullen Group Ltd’s FY2018 Earnings (MTL)

Mullen Group Ltd (TSE:MTL) – Analysts at National Bank Financial issued their FY2018 earnings per share (EPS) estimates for shares of Mullen Group in a research report issued to clients and investors on Wednesday, October 24th. National Bank Financial analyst G. Colman expects that the company will post earnings per share of $0.53 for the year. National Bank Financial currently has a “Outperform” rating and a $18.50 price target on the stock. National Bank Financial also issued estimates for Mullen Group’s FY2020 earnings at $0.74 EPS.

A number of other brokerages have also commented on MTL. Royal Bank of Canada boosted their target price on Mullen Group from C$16.00 to C$18.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. BMO Capital Markets boosted their price objective on Mullen Group from C$16.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Cormark raised Mullen Group from a “market perform” rating to a “buy” rating and boosted their price objective for the stock from C$15.00 to C$19.00 in a report on Friday, July 27th. CIBC boosted their price objective on Mullen Group from C$17.00 to C$18.00 in a report on Friday, July 27th. Finally, Canaccord Genuity boosted their price objective on Mullen Group from C$16.25 to C$17.50 in a report on Friday, August 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$17.17.

Shares of Mullen Group stock opened at C$13.97 on Monday. Mullen Group has a one year low of C$13.87 and a one year high of C$17.12.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be issued a dividend of $0.05 per share. 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 business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of C$15.00, for a total transaction of C$10,500,000.00.

About Mullen Group

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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Earnings History and Estimates for Mullen Group (TSE:MTL)

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