Mullen Group Ltd (MTL) Receives Average Recommendation of “Buy” from Analysts

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Shares of Mullen Group Ltd (TSE:MTL) have been given an average rating of “Buy” by the ten brokerages that are covering the firm, reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$14.33.

MTL has been the subject of a number of recent analyst reports. National Bank Financial cut their target price on Mullen Group from C$18.50 to C$16.50 and set an “outperform” rating for the company in a research report on Friday, January 25th. Raymond James raised Mullen Group from a “market perform” rating to an “outperform” rating and set a C$15.60 price target for the company in a report on Friday, February 1st. BMO Capital Markets lowered their price target on Mullen Group from C$16.00 to C$13.00 in a report on Friday, February 8th. Canaccord Genuity upped their target price on Mullen Group from C$13.50 to C$13.75 in a report on Wednesday, March 20th. Finally, GMP Securities lowered their target price on Mullen Group from C$13.50 to C$12.50 in a report on Friday, February 8th.

Shares of TSE:MTL traded down C$0.11 during trading on Thursday, reaching C$10.05. 165,113 shares of the company traded hands, compared to its average volume of 320,767. The company has a market cap of $1.06 billion and a price-to-earnings ratio of -31.12. The company has a debt-to-equity ratio of 61.72, a quick ratio of 1.50 and a current ratio of 1.82. Mullen Group has a 52 week low of C$9.39 and a 52 week high of C$16.93.

The company also recently announced a monthly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a $0.05 dividend. The ex-dividend date was Monday, April 29th. This represents a $0.60 dividend on an annualized basis and a yield of 5.97%. Mullen Group’s payout ratio is presently -186.34%.

About Mullen Group

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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