Canaccord Genuity Lowers Mullen Group (TSE:MTL) Price Target to C$10.50

Mullen Group (TSE:MTL) had its price target lowered by investment analysts at Canaccord Genuity from C$11.00 to C$10.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity’s target price points to a potential upside of 11.35% from the stock’s current price.

Several other brokerages have also issued reports on MTL. Raymond James reiterated a “hold” rating on shares of Snc-Lavalin Group in a report on Wednesday, July 3rd. GMP Securities lowered Mullen Group from a “hold” rating to a “reduce” rating and cut their price objective for the stock from C$12.00 to C$9.25 in a report on Friday, April 26th. CIBC upgraded Mullen Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 3rd. TD Securities upgraded Mullen Group from a “hold” rating to a “buy” rating and set a C$13.50 price objective for the company in a report on Monday, June 24th. Finally, National Bank Financial upgraded Cineplex to a “buy” rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Mullen Group presently has an average rating of “Buy” and an average price target of C$13.97.

Shares of TSE:MTL traded down C$0.10 during midday trading on Tuesday, hitting C$9.43. 94,936 shares of the stock were exchanged, compared to its average volume of 315,648. The company has a quick ratio of 1.50, a current ratio of 1.82 and a debt-to-equity ratio of 61.72. Mullen Group has a 52-week low of C$9.36 and a 52-week high of C$16.93. The stock’s fifty day moving average is C$9.75. The company has a market cap of $1.04 billion and a P/E ratio of -29.35.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Wednesday, April 24th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.11 by C($0.01). The company had revenue of C$319.60 million during the quarter, compared to analyst estimates of C$304.83 million. On average, analysts anticipate that Mullen Group will post 0.67 EPS for the current fiscal year.

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 transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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