Scotiabank downgraded shares of Mullen Group (TSE:MTL - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday, MarketBeat reports. Scotiabank currently has C$16.00 target price on the stock, down from their previous target price of C$16.50.
A number of other equities research analysts also recently commented on MTL. TD Securities reduced their target price on Mullen Group from C$21.00 to C$18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Raymond James Financial upgraded Mullen Group from a "market perform" rating to an "outperform" rating and reduced their target price for the company from C$17.00 to C$16.75 in a research report on Thursday, April 24th. Cormark reduced their target price on Mullen Group from C$18.50 to C$17.00 in a research report on Thursday, April 24th. National Bankshares reduced their target price on Mullen Group from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Cibc World Mkts downgraded Mullen Group from a "strong-buy" rating to a "hold" rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$17.25.
Check Out Our Latest Stock Report on Mullen Group
Mullen Group Trading Down 0.1%
Mullen Group stock traded down C$0.02 during trading on Thursday, reaching C$14.00. 83,902 shares of the company were exchanged, compared to its average volume of 225,192. Mullen Group has a 52-week low of C$11.81 and a 52-week high of C$16.06. The company has a market capitalization of C$1.25 billion, a P/E ratio of 10.15, a PEG ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06. The stock's 50 day simple moving average is C$14.07 and its two-hundred day simple moving average is C$13.75.
Mullen Group Dividend Announcement
The company also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were given a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Wednesday, April 30th. Mullen Group's dividend payout ratio is currently 60.92%.
Mullen Group Company Profile
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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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