GMP Securities Trims Mullen Group (MTL) Target Price to C$12.50

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Mullen Group (TSE:MTL) had its price target reduced by GMP Securities from C$13.50 to C$12.50 in a research note released on Friday.

Other equities research analysts have also recently issued research reports about the stock. TD Securities lifted their price target on shares of Mullen Group from C$12.50 to C$14.00 and gave the stock a hold rating in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Mullen Group from C$18.00 to C$17.00 and set an outperform rating for the company in a research report on Friday, October 26th. Canaccord Genuity lowered their price target on shares of Mullen Group from C$14.50 to C$13.50 in a research report on Thursday, January 10th. Industrial Alliance Securities upgraded shares of Mullen Group from a buy rating to a strong-buy rating in a research report on Friday, October 26th. Finally, National Bank Financial lowered their price target on shares of Mullen Group from C$16.50 to C$16.00 and set an outperform rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of C$15.68.

Shares of TSE:MTL opened at C$11.51 on Friday. Mullen Group has a one year low of C$11.26 and a one year high of C$16.93. The company has a quick ratio of 1.58, a current ratio of 1.94 and a debt-to-equity ratio of 49.29. The company has a market cap of $1.21 billion and a PE ratio of 28.28.

The firm also recently declared a monthly dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 31st will be given a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Wednesday, January 30th. Mullen Group’s dividend payout ratio is 147.42%.

In related news, Director David Edward Mullen sold 150,000 shares of Mullen Group stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of C$13.20, for a total transaction of C$1,980,000.00.

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 offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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