Mullen Group (TSE:MTL) Lowered 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 research report report published on Thursday morning, Marketbeat Ratings reports. Scotiabank currently has C$16.00 price objective on the stock, down from their prior price objective of C$16.50.

Several other brokerages also recently weighed in on MTL. Desjardins set a C$18.00 target price on Mullen Group and gave the company a "buy" rating in a research note on Thursday, May 22nd. CIBC raised their target price on Mullen Group from C$15.00 to C$16.50 in a research note on Thursday, May 22nd. TD Securities lowered their target price 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 upgraded Mullen Group from a "market perform" rating to an "outperform" rating and lowered their target price for the company from C$17.00 to C$16.75 in a research note on Thursday, April 24th. Finally, National Bankshares lowered their target price on Mullen Group from C$19.00 to C$18.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Mullen Group has a consensus rating of "Moderate Buy" and an average price target of C$17.25.

Mullen Group Stock Down 0.1%

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 market capitalization of C$1.25 billion, a price-to-earnings ratio of 10.15, a P/E/G 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 firm's 50 day moving average is C$14.08 and its 200 day moving average is C$13.75.

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 issued a $0.07 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $0.84 dividend on an annualized basis and a yield of 6.00%. Mullen Group's dividend payout ratio is currently 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.