Cibc World Mkts cut shares of Mullen Group (TSE:MTL - Free Report) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.
A number of other brokerages have also issued reports on MTL. Desjardins set a C$18.00 price target on Mullen Group and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Cormark reduced their price target on Mullen Group from C$18.50 to C$17.00 in a research report on Thursday, April 24th. Raymond James Financial upgraded Mullen Group from a "market perform" rating to an "outperform" rating and cut their price objective for the company from C$17.00 to C$16.75 in a report on Thursday, April 24th. Acumen Capital cut their price objective on Mullen Group from C$18.75 to C$18.25 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Scotiabank cut their price objective on Mullen Group from C$17.00 to C$16.50 and set an "outperform" rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$17.25.
View Our Latest Stock Analysis on MTL
Mullen Group Stock Performance
MTL stock traded down C$0.02 during trading on Monday, reaching C$14.00. 227,525 shares of the company's stock were exchanged, compared to its average volume of 226,400. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. Mullen Group has a 1-year low of C$11.81 and a 1-year high of C$16.06. The company's fifty day moving average price is C$14.08 and its 200-day moving average price is C$13.73. The firm has a market cap of C$1.25 billion, a PE ratio of 10.15, a P/E/G ratio of 1.81 and a beta of 1.82.
Mullen Group Dividend Announcement
The business also recently announced a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.00%. The ex-dividend date was Wednesday, April 30th. Mullen Group's dividend payout ratio is 60.92%.
About Mullen Group
(
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Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.
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