Mullen Group (TSE:MTL) had its target price trimmed by Canaccord Genuity from C$17.50 to C$17.00 in a report issued on Tuesday morning.

A number of other research firms have also recently commented on MTL. BMO Capital Markets increased their target price on shares of Mullen Group from C$16.00 to C$18.00 and gave the company a market perform rating in a research report on Friday, July 27th. National Bank Financial increased their target price on shares of Mullen Group from C$17.00 to C$18.50 and gave the company an outperform rating in a research report on Wednesday, October 3rd. Cormark raised shares of Mullen Group from a market perform rating to a buy rating and increased their target price for the company from C$15.00 to C$19.00 in a research report on Friday, July 27th. CIBC increased their target price on shares of Mullen Group from C$17.00 to C$18.00 in a research report on Friday, July 27th. Finally, Royal Bank of Canada increased their target price on shares of Mullen Group from C$16.00 to C$18.00 and gave the company an outperform rating in a research report on Friday, July 27th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$17.44.

TSE:MTL opened at C$15.20 on Tuesday. Mullen Group has a 52 week low of C$14.10 and a 52 week high of C$17.12.

Mullen Group (TSE:MTL) last posted its earnings results on Wednesday, July 25th. The company reported C$0.15 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.10 by C$0.05. Mullen Group had a net margin of 1.81% and a return on equity of 2.17%. The company had revenue of C$295.70 million during the quarter, compared to analysts’ expectations of C$286.40 million.

The company also recently announced a monthly dividend, which was paid on Monday, October 15th. Investors of record on Sunday, September 30th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 3.95%.

In other Mullen Group news, Director David Edward Mullen sold 700,000 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of C$15.00, for a total value of C$10,500,000.00.

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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