Mullen Group Ltd (MTL) Director Sells C$10,500,000.00 in Stock
Mullen Group Ltd (TSE:MTL) Director David Edward Mullen sold 700,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of C$15.00, for a total transaction of C$10,500,000.00.
MTL stock opened at C$15.08 on Monday. Mullen Group Ltd has a one year low of C$14.10 and a one year high of C$17.62.
Mullen Group (TSE:MTL) last announced its earnings results on Wednesday, July 25th. The company reported C$0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.10 by C$0.05. Mullen Group had a net margin of 1.81% and a return on equity of 2.17%. The business had revenue of C$295.70 million for the quarter, compared to analyst estimates of C$286.40 million.
Several analysts recently commented on MTL shares. Raymond James raised their price target on shares of Mullen Group from C$14.70 to C$14.85 and gave the company a “market perform” rating in a research report on Tuesday, June 12th. Canaccord Genuity raised their price target on shares of Mullen Group from C$16.25 to C$17.50 in a research report on Friday, August 17th. Royal Bank of Canada raised their price target on shares of Mullen Group from C$16.00 to C$18.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Cormark upgraded shares of Mullen Group from a “market perform” rating to a “buy” rating and raised their price target for the company from C$15.00 to C$19.00 in a research report on Friday, July 27th. Finally, CIBC raised their price target on shares of Mullen Group from C$17.00 to C$18.00 in a research report on Friday, July 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$17.26.
Mullen Group Company Profile
Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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