Mullen Group (TSE:MTL) PT Lowered to C$16.50 at Raymond James

Mullen Group (TSE:MTL) had its target price cut by Raymond James from C$17.00 to C$16.50 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Mullen Group’s FY2024 earnings at $1.08 EPS, FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

Several other equities analysts have also recently weighed in on the company. Scotiabank reduced their price target on Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research report on Friday. National Bankshares reduced their target price on Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research report on Friday. TD Securities boosted their target price on Mullen Group from C$21.00 to C$22.00 and gave the stock a buy rating in a research report on Friday, February 16th. Acumen Capital reduced 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 report on Friday, February 16th. Finally, Cormark boosted their target price on Mullen Group from C$19.50 to C$20.00 in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of C$17.89.

Mullen Group Stock Performance

Shares of MTL opened at C$13.10 on Friday. The firm has a market cap of C$1.15 billion, a PE ratio of 9.03, a PEG ratio of 1.81 and a beta of 1.79. Mullen Group has a 1 year low of C$12.82 and a 1 year high of C$16.43. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06. The stock’s fifty day moving average price is C$14.64 and its two-hundred day moving average price is C$14.20.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating the consensus estimate of C$0.32 by C$0.02. The company had revenue of C$498.60 million during the quarter, compared to analysts’ expectations of C$500.00 million. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. On average, equities research analysts forecast that Mullen Group will post 1.3498623 EPS for the current year.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.06 dividend. 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 currently 49.66%.

Mullen Group Company Profile

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.