Canaccord Genuity Cuts Mullen Group Ltd (MTL) Price Target to C$18.00

Mullen Group Ltd (TSE:MTL) had its price target lowered by Canaccord Genuity from C$19.00 to C$18.00 in a research report report published on Friday.

A number of other research firms also recently weighed in on MTL. 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. 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. 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. Finally, National Bank Financial decreased their price target on shares of Mullen Group from C$18.75 to C$18.25 and set an outperform rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of C$18.44.

Shares of Mullen Group (MTL) opened at 16.74 on Friday. The firm has a market capitalization of $1.74 billion and a PE ratio of 34.16. Mullen Group has a one year low of $14.49 and a one year high of $20.32. The firm’s 50 day moving average is $16.71 and its 200-day moving average is $15.78.

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The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Shareholders of record on Saturday, September 30th were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.15%.

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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