Mullen Group (TSE:MTL) Given New C$15.50 Price Target at CIBC

Mullen Group (TSE:MTL) had its price objective reduced by CIBC from C$16.00 to C$15.50 in a research note released on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. BMO Capital Markets reduced their price objective on Mullen Group from C$16.00 to C$14.50 in a research report on Friday, April 26th. Royal Bank of Canada lowered their target price on Mullen Group from C$17.00 to C$16.00 and set an outperform rating for the company in a report on Friday, April 26th. National Bankshares lowered their target price on Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a report on Friday, April 26th. Scotiabank lowered their target price on Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a report on Friday, April 26th. Finally, Raymond James lowered their target price on Mullen Group from C$17.00 to C$16.50 and set a market perform rating for the company in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Mullen Group currently has an average rating of Moderate Buy and a consensus target price of C$17.83.

Mullen Group Price Performance

Shares of TSE MTL opened at C$12.95 on Wednesday. The stock has a market capitalization of C$1.14 billion, a PE ratio of 9.45, a P/E/G ratio of 1.81 and a beta of 1.81. The company has a debt-to-equity ratio of 80.16, a current ratio of 0.78 and a quick ratio of 1.06. The business has a fifty day moving average price of C$12.90 and a two-hundred day moving average price of C$14.02. Mullen Group has a fifty-two week low of C$12.47 and a fifty-two week high of C$16.20.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$0.25 earnings per share for the quarter, missing the consensus estimate of C$0.30 by C($0.05). Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. The company had revenue of C$462.60 million during the quarter, compared to analyst estimates of C$501.00 million. As a group, equities analysts predict that Mullen Group will post 1.2780488 earnings per share for the current fiscal year.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 5.56%. The ex-dividend date is Friday, June 28th. Mullen Group’s dividend payout ratio is 52.55%.

Insider Activity 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 that occurred on Thursday, May 16th. The stock was bought at an average price of C$12.90 per share, with a total value of C$322,500.00. 6.30% of the stock is owned by corporate insiders.

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.