Mullen Group Downgraded by National Bank Financial to “Sector Perform” (MTL)
Mullen Group (TSE:MTL) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday. They currently have a C$30.00 price target on the stock, down from their previous price target of C$31.00. National Bank Financial’s target price suggests a potential downside of 1.32% from the company’s current price.
MTL has been the subject of a number of other recent research reports. Analysts at CIBC raised their price target on shares of Mullen Group from C$28.00 to C$33.00 in a research note on Monday, April 28th. They now have a “sector perform” rating on the stock. Separately, analysts at Scotiabank reiterated a “neutral” rating on shares of Mullen Group in a research note on Friday, April 25th. They now have a C$30.00 price target on the stock, up previously from C$26.50. Finally, analysts at BMO Capital Markets raised their price target on shares of Mullen Group from C$29.00 to C$33.00 in a research note on Friday, April 25th. They now have a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of C$30.07.
Mullen Group (TSE:MTL) traded down 5.23% on Thursday, hitting $28.81. 145,047 shares of the company’s stock traded hands. Mullen Group has a 52-week low of $22.93 and a 52-week high of $31.34. The stock’s 50-day moving average is $30.2 and its 200-day moving average is $28.60. The company has a market cap of $2.626 billion and a price-to-earnings ratio of 20.27.
Mullen Group (TSE:MTL) last announced its earnings results on Friday, April 25th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.02. Analysts expect that Mullen Group will post $1.65 EPS for the current fiscal year.
The company also recently announced a jul 14 dividend, which is scheduled for Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $0.10 per share. This represents a dividend yield of 4.02%. The ex-dividend date is Tuesday, July 29th.
Mullen Group Ltd. (TSE:MTL) is a provider of specialized transportation and related services to the oil and natural gas industry in western Canada and is a supplier of trucking and logistics services in Canada.
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