Royal Bank of Canada Trims Mullen Group (TSE:MTL) Target Price to C$16.00

Mullen Group (TSE:MTL) had its target price lowered by Royal Bank of Canada from C$17.00 to C$16.00 in a research note published on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also commented on MTL. Cormark increased their price objective on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. CIBC cut their target price on Mullen Group from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Friday. National Bankshares cut their target price on Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a research report on Friday. TD Securities upped their target price on Mullen Group from C$21.00 to C$22.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, Raymond James cut their target price on Mullen Group from C$17.00 to C$16.50 and set a market perform rating on the stock in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of C$17.89.

Mullen Group Stock Performance

Shares of MTL opened at C$13.10 on Friday. Mullen Group has a 12 month low of C$12.82 and a 12 month high of C$16.43. The stock has a fifty day moving average price of C$14.64 and a 200-day moving average price of C$14.20. The company has a current ratio of 0.76, a quick ratio of 1.06 and a debt-to-equity ratio of 78.38. The firm has a market cap of C$1.15 billion, a PE ratio of 9.03, a P/E/G ratio of 1.81 and a beta of 1.79.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, beating the consensus estimate 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 analyst estimates of C$500.00 million. Equities research analysts predict that Mullen Group will post 1.3498623 earnings per share for the current fiscal year.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 5.50%. The ex-dividend date is Monday, April 29th. Mullen Group’s dividend payout ratio is currently 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.