Mullen Group Ltd (TSE:MTL) Given Average Rating of “Buy” by Brokerages
Shares of Mullen Group Ltd (TSE:MTL) have been given an average recommendation of “Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$18.81.
MTL has been the subject of several recent research reports. National Bank Financial downgraded Mullen Group from an “outperfrom under weight” rating to a “sector perform under weight” rating in a report on Wednesday, April 19th. Raymond James Financial, Inc. downgraded Mullen Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$18.50 to C$16.25 in a report on Monday, April 24th. Scotiabank restated an “outperform” rating and issued a C$18.00 price objective on shares of Mullen Group in a report on Wednesday, July 26th. CIBC decreased their price objective on Mullen Group from C$20.50 to C$19.00 in a report on Thursday, July 20th. Finally, BMO Capital Markets decreased their price objective on Mullen Group from C$21.00 to C$19.00 in a report on Friday, April 21st.
Shares of Mullen Group (MTL) traded up 1.36% on Friday, reaching $15.66. 85,512 shares of the company’s stock traded hands. The firm has a market cap of $1.62 billion and a P/E ratio of 31.96. The stock has a 50-day moving average of $15.76 and a 200 day moving average of $16.15. Mullen Group has a 12-month low of $14.49 and a 12-month high of $20.32.
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.03 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.36 annualized dividend and a yield of 2.30%.
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About Mullen Group
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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