Mullen Group (TSE:MTL – Free Report) had its price target lowered by CIBC from C$17.00 to C$16.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.
MTL has been the subject of a number of other reports. Acumen Capital lowered their target price on Mullen Group from C$19.50 to C$19.00 and set a buy rating for the company in a research note on Friday, February 16th. National Bankshares lowered their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research report on Friday. BMO Capital Markets dropped their price objective on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday. Scotiabank reduced their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research note on Friday. Finally, TD Securities lifted their price target on Mullen Group from C$21.00 to C$22.00 and gave the company a buy rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$17.89.
Check Out Our Latest Stock Report on Mullen Group
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. The firm had revenue of C$498.60 million during the quarter, compared to analysts’ expectations of C$500.00 million. On average, equities research analysts forecast that Mullen Group will post 1.3498623 earnings per share for the current year.
Mullen Group Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Monday, April 29th. Mullen Group’s payout ratio is presently 49.66%.
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.
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