Mullen Group (TSE:MTL) Price Target Lowered to C$10.00 at Canaccord Genuity

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Mullen Group (TSE:MTL) had its price target decreased by Canaccord Genuity from C$10.50 to C$10.00 in a research note issued to investors on Friday, BayStreet.CA reports.

MTL has been the subject of several other research reports. BMO Capital Markets cut their target price on Mullen Group from C$13.00 to C$12.00 in a research note on Friday, July 26th. National Bank Financial cut Mullen Group from an outperform rating to a sector perform rating and cut their target price for the stock from C$13.00 to C$11.00 in a research note on Thursday. TD Securities raised their target price on Mullen Group from C$13.50 to C$15.00 and gave the stock a buy rating in a research note on Friday, July 26th. Royal Bank of Canada dropped their price objective on Mullen Group from C$15.00 to C$14.00 and set an outperform rating for the company in a research note on Friday, April 26th. Finally, CIBC raised Mullen Group from a neutral rating to an outperform rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of C$12.00.

MTL stock opened at C$8.95 on Friday. The business has a fifty day moving average of C$9.61 and a two-hundred day moving average of C$10.78. The company has a quick ratio of 2.69, a current ratio of 3.18 and a debt-to-equity ratio of 67.24. The stock has a market cap of $924.56 million and a price-to-earnings ratio of -57.74. Mullen Group has a 52-week low of C$8.65 and a 52-week high of C$16.93.

The company also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.70%. Mullen Group’s payout ratio is presently -387.10%.

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 transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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