Mullen Group (TSE:MTL) Downgraded to Hold Rating by Scotiabank

Scotiabank cut shares of Mullen Group (TSE:MTL - Free Report) from a strong-buy rating to a hold rating in a report issued on Thursday morning, Marketbeat.com reports. They currently have C$16.00 price objective on the stock, down from their prior price objective of C$16.50.

Several other equities research analysts have also weighed in on the company. National Bankshares dropped 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. Cibc World Mkts lowered Mullen Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 7th. TD Securities decreased their price target on Mullen Group from C$21.00 to C$18.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Raymond James Financial raised Mullen Group from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from C$17.00 to C$16.75 in a research note on Thursday, April 24th. Finally, CIBC increased their price target on Mullen Group from C$15.00 to C$16.50 in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$17.25.

Mullen Group Stock Performance

TSE MTL traded down C$0.02 during trading hours on Thursday, hitting C$14.00. The company had a trading volume of 227,525 shares, compared to its average volume of 226,400. Mullen Group has a fifty-two week low of C$11.81 and a fifty-two week high of C$16.06. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. The business has a fifty day simple moving average of C$14.08 and a 200-day simple moving average of C$13.74. The firm has a market cap of C$1.25 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

Mullen Group Announces Dividend

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 of this dividend was Wednesday, April 30th. Mullen Group's dividend payout ratio is 60.92%.

Mullen Group Company Profile

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.