Mullen Group (TSE:MTL) Lifted to “Outperform” at Scotiabank

Scotiabank upgraded shares of Mullen Group (TSE:MTL – Get Rating) from a sector perform rating to an outperform rating in a report published on Monday morning, BayStreet.CA reports. They currently have C$17.50 price objective on the stock, up from their previous price objective of C$16.00.

Several other research analysts have also commented on MTL. BMO Capital Markets lowered Mullen Group from an outperform rating to a market perform rating and reduced their price target for the stock from C$17.00 to C$15.00 in a research report on Tuesday, January 17th. CIBC reduced their target price on shares of Mullen Group from C$15.50 to C$14.00 and set a neutral rating for the company in a report on Wednesday, January 18th. Cormark lowered their price target on shares of Mullen Group from C$19.00 to C$17.00 in a report on Tuesday, January 17th. Royal Bank of Canada lowered shares of Mullen Group from an outperform rating to a sector perform rating and reduced their price objective for the stock from C$17.00 to C$13.00 in a research note on Friday, October 21st. Finally, Raymond James lowered their target price on shares of Mullen Group from C$18.00 to C$17.00 and set a strong-buy rating for the company in a research note on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mullen Group presently has a consensus rating of Moderate Buy and an average target price of C$16.35.

Mullen Group Stock Performance

Shares of MTL stock opened at C$13.80 on Monday. The firm has a market cap of C$1.28 billion and a price-to-earnings ratio of 11.40. Mullen Group has a 52-week low of C$10.83 and a 52-week high of C$15.98. The company has a quick ratio of 1.06, a current ratio of 1.30 and a debt-to-equity ratio of 85.20. The company’s 50 day moving average is C$14.94 and its 200 day moving average is C$14.40.

Mullen Group Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, January 16th. Stockholders of record on Saturday, December 31st were issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Thursday, December 29th. Mullen Group’s dividend payout ratio (DPR) is presently 51.24%.

Mullen Group Company Profile

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Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.