Analysts Set Mullen Group Ltd (MTL) Price Target at $18.81
Shares of Mullen Group Ltd (TSE:MTL) have been given a consensus rating of “Buy” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$18.81.
Several equities research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Mullen Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$18.00 to C$18.75 in a research note on Tuesday, July 25th. Scotiabank reiterated an “outperform” rating and set a C$18.00 price target on shares of Mullen Group in a research note on Wednesday, July 26th. CIBC decreased their price target on shares of Mullen Group from C$20.50 to C$19.00 in a research note on Thursday, July 20th. Finally, Raymond James Financial, Inc. lifted their price target on shares of Mullen Group from C$15.25 to C$15.75 and gave the stock a “market perform” rating in a research note on Thursday, July 27th.
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Mullen Group (MTL) traded up 1.84% during mid-day trading on Friday, reaching $17.17. 70,558 shares of the company traded hands. The stock has a 50 day moving average price of $16.09 and a 200-day moving average price of $15.78. The company has a market capitalization of $1.78 billion and a P/E ratio of 35.04. Mullen Group has a 52-week low of $14.49 and a 52-week high of $20.32.
The firm also recently declared a monthly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 2.10%.
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.
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