Q3 2017 EPS Estimates for Mullen Group Ltd Lowered by Cormark (MTL)
Mullen Group Ltd (TSE:MTL) – Cormark dropped their Q3 2017 earnings per share estimates for Mullen Group in a note issued to investors on Wednesday. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $0.18 for the quarter, down from their prior estimate of $0.21. Cormark also issued estimates for Mullen Group’s FY2017 earnings at $0.54 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.23 EPS and Q4 2018 earnings at $0.20 EPS.
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Other equities research analysts have also recently issued research reports about the company. Raymond James Financial, Inc. cut Mullen Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$18.50 to C$16.25 in a research note on Monday, April 24th. Scotiabank reaffirmed an “outperform” rating and set a C$18.00 target price on shares of Mullen Group in a research note on Wednesday. CIBC cut their price target on Mullen Group from C$20.50 to C$19.00 in a report on Thursday, July 20th. Royal Bank Of Canada cut their price target on Mullen Group from C$20.00 to C$17.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. Finally, National Bank Financial lowered Mullen Group from an “outperfrom under weight” rating to a “sector perform under weight” rating in a report on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$18.88.
Shares of Mullen Group (TSE:MTL) opened at 16.12 on Thursday. The firm has a 50-day moving average price of $15.63 and a 200 day moving average price of $16.42. The company has a market cap of $1.67 billion and a PE ratio of 37.06. Mullen Group has a 1-year low of $14.49 and a 1-year high of $20.32.
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.23%.
Mullen Group Company Profile
Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The Company operates through its Business Units, which are divided into two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States.
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