Mullen Group (TSE:MTL – Free Report) had its price target cut by Raymond James from C$17.00 to C$16.50 in a report released on Friday, BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Mullen Group’s FY2024 earnings at $1.08 EPS, FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.
MTL has been the subject of several other research reports. National Bankshares lowered their price target on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a research report on Friday. Cormark upped their target price on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Royal Bank of Canada upgraded Mullen Group from a sector perform rating to an outperform rating and lifted their price target for the company from C$15.00 to C$17.00 in a report on Monday, January 22nd. Scotiabank decreased their price objective 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. Finally, BMO Capital Markets cut their target price on Mullen Group from C$16.00 to C$14.50 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of C$17.89.
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Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. The business had revenue of C$498.60 million during the quarter, compared to analyst estimates of C$500.00 million. Equities analysts expect that Mullen Group will post 1.3498623 EPS for the current year.
Mullen Group Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Monday, April 29th. Mullen Group’s dividend payout ratio (DPR) is presently 49.66%.
Mullen Group Company Profile
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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