Mullen Group (TSE:MTL) Downgraded by Raymond James Financial to Hold

Raymond James Financial lowered shares of Mullen Group (TSE:MTL) from a moderate buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Several other analysts also recently issued reports on MTL. BMO Capital Markets raised their price target on Mullen Group from C$16.00 to C$18.00 in a report on Monday. Royal Bank Of Canada increased their target price on Mullen Group from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. TD Securities raised their target price on Mullen Group from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, National Bankshares lowered their price target on shares of Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and an average price target of C$17.30.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$15.28 on Monday. The company has a market cap of C$1.33 billion, a PE ratio of 14.42, a P/E/G ratio of 1.81 and a beta of 0.67. Mullen Group has a fifty-two week low of C$11.81 and a fifty-two week high of C$16.06. The firm has a 50-day simple moving average of C$14.31 and a 200 day simple moving average of C$14.04. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

Mullen Group (TSE:MTL) last issued its earnings results on Wednesday, October 22nd. The company reported C$0.36 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 6.18% and a return on equity of 12.39%. The firm had revenue of C$561.72 million for the quarter.

Mullen Group Dividend Announcement

The business also recently declared a sep 25 dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.07 dividend. Mullen Group’s dividend payout ratio is currently 79.25%.

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.