Mullen Group (TSE:MTL) Cut to Hold at Raymond James Financial

Raymond James Financial lowered shares of Mullen Group (TSE:MTL) from a moderate buy rating to a hold rating in a research note published on Monday, Marketbeat reports.

MTL has been the topic of several other research reports. Royal Bank Of Canada raised their target price on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. National Bankshares reduced their price objective on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. BMO Capital Markets raised their price objective on Mullen Group from C$16.00 to C$18.00 in a report on Monday. Finally, TD Securities lifted their target price on shares of Mullen Group from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$17.30.

Mullen Group Stock Performance

MTL opened at C$15.61 on Monday. The firm’s fifty day simple moving average is C$14.37 and its two-hundred day simple moving average is C$14.06. Mullen Group has a 52-week low of C$11.81 and a 52-week high of C$15.67. The company has a market cap of C$1.36 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.81 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$561.72 million during the quarter. Mullen Group had a net margin of 6.18% and a return on equity of 12.39%.

Mullen Group Announces Dividend

The business also recently disclosed a sep 25 dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.07 per share. Mullen Group’s payout ratio is 79.25%.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.