Mullen Group (TSE:MTL) Lowered to "Hold" Rating by Cibc World Mkts

Cibc World Mkts downgraded shares of Mullen Group (TSE:MTL - Free Report) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Royal Bank Of Canada cut their price objective on Mullen Group from C$16.00 to C$14.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Desjardins set a C$18.00 price objective on shares of Mullen Group and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Raymond James Financial raised shares of Mullen Group from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from C$17.00 to C$16.75 in a research report on Thursday, April 24th. National Bankshares reduced their target price on shares of Mullen Group from C$19.00 to C$18.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Scotiabank lowered their price target on shares of Mullen Group from C$17.00 to C$16.50 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$17.25.

Mullen Group Stock Down 2.0%

MTL traded down C$0.29 during trading on Monday, reaching C$14.02. 299,904 shares of the stock were exchanged, compared to its average volume of 226,392. The stock has a market cap of C$1.25 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. The stock's 50 day moving average price is C$14.07 and its two-hundred day moving average price is C$13.75. Mullen Group has a twelve month low of C$11.81 and a twelve month high of C$16.06.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.99%. Mullen Group's payout ratio is presently 60.92%.

About Mullen Group

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.