Royal Bank of Canada Issues Pessimistic Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective reduced by Royal Bank of Canada from C$16.00 to C$14.00 in a report published on Tuesday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. TD Securities lowered their price objective on shares of Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Raymond James reduced their price objective on Mullen Group from C$18.50 to C$17.50 in a research note on Friday, February 14th. Scotiabank reduced their price target on Mullen Group from C$20.00 to C$19.00 in a report on Thursday, January 30th. Finally, CIBC dropped their price objective on shares of Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Mullen Group presently has a consensus rating of “Buy” and a consensus price target of C$17.06.

Mullen Group Stock Up 6.2 %

Shares of MTL opened at C$13.23 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69. The company has a market capitalization of C$1.18 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The business’s 50 day moving average is C$12.81 and its 200 day moving average is C$14.16. Mullen Group has a 12-month low of C$11.81 and a 12-month high of C$16.06.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were given a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Friday, February 28th. Mullen Group’s payout ratio is 60.92%.

Insider Transactions at Mullen Group

In other news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was bought at an average cost of C$13.23 per share, with a total value of C$26,460.00. Insiders have acquired a total of 2,832 shares of company stock worth $37,153 in the last 90 days. 6.32% of the stock is owned by insiders.

About Mullen Group

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.