Scotiabank Has Lowered Expectations for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL - Free Report) had its target price trimmed by Scotiabank from C$20.00 to C$19.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. Raymond James decreased their price target on shares of Mullen Group from C$18.75 to C$18.50 in a research note on Tuesday, December 10th. Cormark lowered their price target on shares of Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. CIBC raised their price objective on Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. National Bankshares raised their price target on Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their price target on shares of Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$18.97.

Mullen Group Stock Down 4.3 %

Shares of Mullen Group stock traded down C$0.64 during trading on Thursday, reaching C$14.26. The stock had a trading volume of 468,627 shares, compared to its average volume of 196,927. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The company has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 1.81 and a beta of 1.82. The stock has a fifty day moving average price of C$15.04 and a two-hundred day moving average price of C$14.60. Mullen Group has a 52 week low of C$12.47 and a 52 week high of C$16.06.

Mullen Group Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, January 31st. Mullen Group's payout ratio is presently 62.69%.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.