Scotiabank Brokers Raise Earnings Estimates for Mullen Group

Key Points

• Scotiabank raised its FY2026 EPS estimate for Mullen Group to C$1.32 from C$1.23 and forecast FY2027 EPS of C$1.45.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” from five Buy and three Hold ratings; the average price target is C$26.00.
• Mullen Group shares opened at C$27.85 after declining 1.7%, while the company reported quarterly revenue of C$609.3 million and EPS of C$0.41.

Mullen Group Ltd. (TSE:MTL - Free Report) - Stock analysts at Scotiabank raised their FY2026 earnings estimates for shares of Mullen Group in a research report issued to clients and investors on Wednesday, July 29th. Scotiabank analyst K. Gupta now forecasts that the company will post earnings of $1.32 per share for the year, up from their prior estimate of $1.23. Scotiabank also issued estimates for Mullen Group's FY2027 earnings at $1.45 EPS.

A number of other research analysts have also weighed in on MTL. National Bank Financial raised their target price on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Canadian Imperial Bank of Commerce increased their price target on Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Acumen Capital lifted their target price on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Raymond James Financial raised their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, BMO Capital Markets increased their price target on Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$26.00.

Mullen Group Stock Down 1.7%

Shares of MTL stock opened at C$27.85 on Thursday. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. Mullen Group has a one year low of C$12.98 and a one year high of C$28.78. The company's fifty day moving average price is C$23.08 and its 200-day moving average price is C$19.66. The company has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.81 and a beta of 1.13.

Mullen Group (TSE:MTL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The business had revenue of C$609.30 million for the quarter.

Insider Activity

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the completion of the sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. This represents a 31.64% decrease in their position. Insiders own 6.32% of the company's stock.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.

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