Mullen Group Ltd (TSE:MTL) - Stock analysts at Cormark reduced their FY2018 earnings estimates for Mullen Group in a research report issued on Wednesday. Cormark analyst D. Tyerman now forecasts that the company will post earnings of $0.76 per share for the year, down from their prior forecast of $0.99.
A number of other brokerages have also recently weighed in on MTL. Raymond James Financial, Inc. set a C$18.50 price target on shares of Mullen Group and gave the company an “outperform” rating in a research report on Monday, April 3rd. Scotiabank reissued an “outperform” rating and set a C$18.00 target price on shares of Mullen Group in a research report on Wednesday. Royal Bank Of Canada reduced their target price on shares of Mullen Group from C$20.00 to C$17.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. BMO Capital Markets reduced their target price on shares of Mullen Group from C$21.00 to C$19.00 in a research report on Friday, April 21st. Finally, CIBC reduced their target price on shares of Mullen Group from C$20.50 to C$19.00 in a research report on Thursday, July 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$18.81.
Shares of Mullen Group (TSE:MTL) traded down 1.11% during midday trading on Friday, hitting $15.98. 99,821 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $15.67 and its 200-day moving average is $16.40. The stock has a market cap of $1.66 billion and a PE ratio of 32.61. Mullen Group has a 1-year low of $14.49 and a 1-year high of $20.32.
The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.25%.
Mullen Group Company Profile
Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The Company operates through its Business Units, which are divided into 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.
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