BMO Capital Markets upgraded shares of Mullen Group (TSE:MTL – Free Report) from a market perform rating to an outperform rating in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has C$17.00 price target on the stock, up from their prior price target of C$14.50.
Several other research analysts have also issued reports on MTL. Raymond James increased their target price on shares of Mullen Group from C$16.50 to C$17.00 in a research note on Friday. CIBC cut their target price on shares of Mullen Group from C$16.00 to C$15.50 and set an outperform rating on the stock in a research note on Wednesday, July 3rd. Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday. Finally, Cormark increased their target price on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mullen Group currently has an average rating of Moderate Buy and an average target price of C$18.33.
Get Our Latest Analysis on MTL
Mullen Group Trading Up 1.3 %
Mullen Group (TSE:MTL – Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.05). The company had revenue of C$462.60 million for the quarter, compared to the consensus estimate of C$501.00 million. Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. Equities analysts expect that Mullen Group will post 1.2780488 earnings per share for the current year.
Mullen Group Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Wednesday, July 31st. Mullen Group’s dividend payout ratio (DPR) is 52.55%.
Insider Buying and Selling at Mullen Group
In other Mullen Group news, Senior Officer Carson Paul Urlacher acquired 25,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of C$12.90 per share, with a total value of C$322,500.00. Insiders own 6.30% of the company’s stock.
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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