Mullen Group (MTL) Price Target Lowered to C$16.00 at Canaccord Genuity

Mullen Group (TSE:MTL) had its price target trimmed by Canaccord Genuity from C$17.00 to C$16.00 in a research note released on Tuesday.

MTL has been the topic of several other reports. Industrial Alliance Securities lowered their price target on shares of Mullen Group from C$20.00 to C$19.00 and set a strong-buy rating on the stock in a report on Tuesday, December 12th. National Bank Financial lowered shares of Mullen Group from an outperform rating to a sector perform rating and lowered their price target for the company from C$18.25 to C$16.50 in a report on Monday, December 11th. TD Securities lowered their price target on shares of Mullen Group from C$18.00 to C$17.00 and set a hold rating on the stock in a report on Friday, December 15th. Scotiabank lowered shares of Mullen Group from an outperform rating to a sector perform rating and lowered their price target for the company from C$18.00 to C$17.50 in a report on Thursday, October 12th. Finally, CIBC lowered their price target on shares of Mullen Group from C$19.00 to C$18.00 in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of C$16.97.

Shares of Mullen Group (MTL) opened at C$14.35 on Tuesday. Mullen Group has a 1-year low of C$14.18 and a 1-year high of C$17.62. The company has a market cap of $1,490.00, a price-to-earnings ratio of 25.18 and a beta of 0.25.

The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.05 per share. This is a positive change from Mullen Group’s previous monthly dividend of $0.03. This represents a $0.60 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, January 30th. Mullen Group’s dividend payout ratio is presently 68.42%.

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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.

Analyst Recommendations for Mullen Group (TSE:MTL)

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