Mullen Group (TSE:MTL – Free Report) had its price objective lifted by Royal Bank of Canada from C$16.00 to C$17.00 in a research report report published on Friday morning, BayStreet.CA reports.
A number of other brokerages have also issued reports on MTL. Raymond James lowered their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating on the stock in a research report on Friday, April 26th. Scotiabank lowered their price objective on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating on the stock in a research report on Friday, April 26th. National Bankshares lowered their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a research report on Friday, April 26th. CIBC lowered their price objective on shares of Mullen Group from C$16.00 to C$15.50 and set an outperform rating on the stock in a research report on Wednesday, July 3rd. Finally, Cormark lifted their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$18.33.
View Our Latest Stock Report on MTL
Mullen Group Stock Performance
Mullen Group Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.82%. Mullen Group’s payout ratio is currently 52.55%.
Insiders Place Their Bets
In related news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of C$12.90 per share, for a total transaction of C$322,500.00. Insiders own 6.30% of the company’s stock.
Mullen Group Company Profile
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.
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