Scotiabank Issues Positive Outlook for Mullen Group Earnings

Mullen Group Ltd. (TSE:MTL) – Analysts at Scotiabank boosted their FY2026 earnings per share estimates for Mullen Group in a research note issued to investors on Thursday, July 23rd. Scotiabank analyst K. Gupta now forecasts that the company will post earnings per share of $1.23 for the year, up from their prior estimate of $1.22. Scotiabank also issued estimates for Mullen Group’s FY2027 earnings at $1.25 EPS.

Other analysts have also recently issued reports about the stock. National Bank Financial lifted their target price on shares of Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday. Acumen Capital upped their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Royal Bank Of Canada raised their price target on shares of Mullen Group from C$23.00 to C$30.00 in a report on Friday. Canadian Imperial Bank of Commerce lifted their price objective on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Finally, Desjardins boosted their price objective on shares of Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$26.00.

Mullen Group Stock Performance

Shares of Mullen Group stock opened at C$28.73 on Friday. The firm has a market capitalization of C$2.77 billion, a P/E ratio of 25.88, a PEG ratio of 1.81 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59. The company has a 50 day moving average price of C$22.70 and a 200 day moving average price of C$19.38. Mullen Group has a 52 week low of C$12.98 and a 52 week high of C$28.78.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The business had revenue of C$609.30 million for the quarter.

Insider Activity at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director owned 7,562 shares in the company, valued at C$162,583. This represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is owned by company insiders.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. Mullen Group’s payout ratio is 75.68%.

More Mullen Group News

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.