Raymond James Financial Lowers Mullen Group (MTL) Price Target to C$14.70

Mullen Group (TSE:MTL) had its price objective lowered by Raymond James Financial from C$15.75 to C$14.70 in a research report report published on Thursday morning. Raymond James Financial currently has a market perform rating on the stock.

MTL has been the topic of several other research reports. Industrial Alliance Securities dropped their target price on Mullen Group from C$20.00 to C$19.00 and set a strong-buy rating on the stock in a research report on Tuesday, December 12th. National Bank Financial cut Mullen Group from an outperform rating to a sector perform rating and dropped their target price for the company from C$18.25 to C$16.50 in a research report on Monday, December 11th. Canaccord Genuity dropped their target price on Mullen Group from C$17.00 to C$16.00 in a research report on Tuesday, February 6th. TD Securities dropped their target price on Mullen Group from C$18.00 to C$17.00 and set a hold rating on the stock in a research report on Friday, December 15th. Finally, Scotiabank cut Mullen Group from an outperform rating to a sector perform rating and dropped their target price for the company from C$18.00 to C$17.50 in a research report on Thursday, October 12th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of C$16.97.

Shares of Mullen Group (MTL) opened at C$14.35 on Thursday. The stock has a market capitalization of $1,490.00, a price-to-earnings ratio of 25.18 and a beta of 0.25. Mullen Group has a 52-week low of C$14.18 and a 52-week high of C$17.62.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.05 dividend. This is a boost from Mullen Group’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, January 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.18%. Mullen Group’s dividend payout ratio (DPR) is presently 68.42%.

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About Mullen Group

Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through 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, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.

Analyst Recommendations for Mullen Group (TSE:MTL)

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