Mullen Group Ltd (TSE:MTL) – Investment analysts at National Bank Financial reduced their Q1 2018 earnings per share estimates for Mullen Group in a report released on Tuesday. National Bank Financial analyst G. Colman now expects that the company will earn $0.05 per share for the quarter, down from their previous estimate of $0.09. National Bank Financial currently has a “Outperform” rating and a $16.50 target price on the stock. National Bank Financial also issued estimates for Mullen Group’s Q2 2018 earnings at $0.08 EPS and Q3 2018 earnings at $0.08 EPS.
A number of other research analysts also recently weighed in on MTL. Canaccord Genuity reduced their target price on Mullen Group from C$19.00 to C$18.00 in a report on Friday, October 27th. TD Securities reiterated a “hold” rating and set a C$18.00 target price on shares of Mullen Group in a report on Tuesday, October 31st. Industrial Alliance Securities reduced their target price on 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. CIBC reduced their target price on Mullen Group from C$19.00 to C$18.00 in a report on Thursday, December 14th. Finally, Scotiabank cut their price target on Mullen Group from C$17.00 to C$16.50 and set a “sector perform” rating on the stock in a research note 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$16.97.
The business also recently declared a monthly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were paid a $0.05 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.06%. This is an increase from Mullen Group’s previous monthly dividend of $0.03. Mullen Group’s dividend payout ratio is presently 61.90%.
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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.
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