BMO Capital Markets upgraded shares of Mullen Group (TSE:MTL – Free Report) from a market perform rating to an outperform rating in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has C$17.00 target price on the stock, up from their prior target price of C$14.50.
Other equities research analysts also recently issued reports about the company. Cormark increased their price objective on Mullen Group from C$18.75 to C$19.50 in a research note on Friday. CIBC cut their price target on Mullen Group from C$16.00 to C$15.50 and set an outperform rating for the company in a research note on Wednesday, July 3rd. Scotiabank cut their price target on Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research note on Friday, April 26th. National Bankshares cut their price target on Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research note on Friday, April 26th. Finally, Raymond James raised their price target on Mullen Group from C$16.50 to C$17.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$18.33.
Get Our Latest Stock Analysis on MTL
Mullen Group Stock Up 1.3 %
Mullen Group (TSE:MTL – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.05). The business had revenue of C$462.60 million during the quarter, compared to analysts’ expectations of C$501.00 million. Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. As a group, analysts expect that Mullen Group will post 1.2780488 EPS for the current fiscal year.
Mullen Group Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Wednesday, July 31st. Mullen Group’s dividend payout ratio is 52.55%.
Insider Activity
In related news, Senior Officer Carson Paul Urlacher acquired 25,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of C$12.90 per share, with a total value of C$322,500.00. 6.30% of the stock is currently owned by insiders.
About Mullen Group
Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.
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