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%.

COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/08/11/mullen-group-ltd-tsemtl-given-average-rating-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Mullen Group (TSE:MTL)

Receive News & Ratings for Mullen Group Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mullen Group Ltd and related companies with MarketBeat.com's FREE daily email newsletter.