Mullen Group (TSE:MTL) Given New C$20.00 Price Target at BMO Capital Markets

Mullen Group (TSE:MTL) had its price target boosted by BMO Capital Markets from C$17.00 to C$20.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

MTL has been the subject of several other reports. TD Securities decreased their price objective on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. CIBC upped their price objective on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday. Royal Bank of Canada upped their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Cormark upped their target price on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. Finally, Raymond James upped their target price on shares of Mullen Group from C$17.25 to C$18.75 in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$18.86.

Mullen Group Stock Performance

MTL stock opened at C$15.26 on Friday. The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. The company has a market capitalization of C$1.34 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.81 and a beta of 1.82. Mullen Group has a 12 month low of C$12.47 and a 12 month high of C$15.72. The firm has a 50 day moving average of C$14.33 and a two-hundred day moving average of C$13.79.

Mullen Group (TSE:MTL) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The business had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Thursday, October 31st. Mullen Group’s dividend payout ratio is 62.69%.

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.