Scotiabank Has Positive View of Mullen Group FY2026 Earnings

Mullen Group Ltd. (TSE:MTL) – Stock analysts at Scotiabank upped their FY2026 earnings per share estimates for shares of Mullen Group in a report issued on Wednesday, July 29th. Scotiabank analyst K. Gupta now expects that the company will earn $1.32 per share for the year, up from their previous forecast of $1.23. Scotiabank also issued estimates for Mullen Group’s FY2027 earnings at $1.45 EPS.

Several other brokerages have also recently issued reports on MTL. Acumen Capital lifted their target price on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. National Bank Financial raised their target price on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce lifted their target price on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Desjardins raised their price target on shares of Mullen Group from C$23.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, BMO Capital Markets raised their target price on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Down 1.7%

Shares of TSE MTL opened at C$27.85 on Thursday. The firm has a market cap of C$2.68 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. Mullen Group has a 52-week low of C$12.98 and a 52-week high of C$28.78. The company’s 50-day simple moving average is C$23.08 and its 200-day simple moving average is C$19.66. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The business had revenue of C$609.30 million for the quarter.

Insider Activity

In related news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. Corporate insiders own 6.32% of the company’s stock.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.