CIBC Lowers Mullen Group (TSE:MTL) Price Target to C$15.50

Mullen Group (TSE:MTL) had its price objective reduced by CIBC from C$16.00 to C$15.50 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on MTL. Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a research report on Friday, April 26th. National Bankshares cut their target price 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, April 26th. Royal Bank of Canada cut their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an outperform rating for the company in a research report on Friday, April 26th. BMO Capital Markets cut their price objective on shares of Mullen Group from C$16.00 to C$14.50 in a research report on Friday, April 26th. Finally, Raymond James cut their price objective on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating for the company in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Mullen Group presently has an average rating of Moderate Buy and an average target price of C$17.83.

Mullen Group Stock Down 0.5 %

Shares of TSE:MTL opened at C$12.95 on Wednesday. The company has a market cap of C$1.14 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.81 and a beta of 1.81. Mullen Group has a fifty-two week low of C$12.47 and a fifty-two week high of C$16.20. The firm’s 50-day simple moving average is C$12.90 and its 200-day simple moving average is C$14.02. The company has a quick ratio of 1.06, a current ratio of 0.78 and a debt-to-equity ratio of 80.16.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Thursday, April 25th. The company reported C$0.25 EPS for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). The company had revenue of C$462.60 million for the quarter, compared to analysts’ expectations of C$501.00 million. Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. As a group, equities research analysts predict that Mullen Group will post 1.2780488 earnings per share for the current year.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be issued a $0.06 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.56%. Mullen Group’s dividend payout ratio (DPR) is presently 52.55%.

Insider Buying and Selling

In related news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of C$12.90 per share, for a total transaction of C$322,500.00. Corporate insiders own 6.30% of the company’s stock.

About Mullen Group

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.