Raymond James Cuts Mullen Group (TSE:MTL) Price Target to C$18.50

Mullen Group (TSE:MTL) had its target price trimmed by Raymond James from C$18.75 to C$18.50 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. Raymond James also issued estimates for Mullen Group’s FY2024 earnings at $1.25 EPS, FY2025 earnings at $1.19 EPS and FY2026 earnings at $1.45 EPS.

Several other research firms also recently weighed in on MTL. CIBC upped their price target on Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. National Bankshares increased their target price on Mullen Group from C$18.00 to C$19.00 in a research note on Monday. BMO Capital Markets lifted their price target on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Finally, TD Securities dropped their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$18.97.

Mullen Group Trading Down 0.1 %

TSE:MTL opened at C$15.42 on Tuesday. Mullen Group has a one year low of C$12.47 and a one year high of C$16.06. The company’s 50-day simple moving average is C$15.03 and its 200 day simple moving average is C$14.11. The firm has a market capitalization of C$1.35 billion, a P/E ratio of 11.51, a PEG ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.45%. Mullen Group’s dividend payout ratio is presently 62.69%.

About Mullen Group

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.