Royal Bank of Canada Lowers Mullen Group (MTL) Price Target to C$14.00

Mullen Group (TSE:MTL) had its price objective dropped by research analysts at Royal Bank of Canada from C$15.00 to C$14.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 30.48% from the company’s current price.

Several other analysts also recently commented on the company. GMP Securities lowered their price objective on Mullen Group from C$13.50 to C$12.50 in a research note on Friday, February 8th. Raymond James reissued an “outperform” rating and issued a C$15.25 price objective on shares of Mullen Group in a research note on Thursday, February 7th. TD Securities increased their price objective on Mullen Group from C$12.50 to C$14.00 and gave the stock a “hold” rating in a research note on Thursday, February 7th. BMO Capital Markets lowered their price objective on Mullen Group from C$16.00 to C$13.00 in a research note on Friday, February 8th. Finally, National Bank Financial lowered their price objective on Mullen Group from C$18.50 to C$16.50 and set an “outperform” rating for the company in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Mullen Group currently has an average rating of “Buy” and a consensus price target of C$15.02.

Shares of Mullen Group stock traded down C$1.46 on Friday, hitting C$10.73. The company had a trading volume of 956,038 shares, compared to its average volume of 314,778. The company has a market cap of $1.27 billion and a PE ratio of -25.55. Mullen Group has a 1 year low of C$10.69 and a 1 year high of C$16.93. The company has a quick ratio of 1.61, a current ratio of 1.94 and a debt-to-equity ratio of 57.03.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Wednesday, February 6th. The company reported C$0.16 EPS for the quarter, missing the consensus estimate of C$0.18 by C($0.02). The firm had revenue of C$333.30 million during the quarter, compared to analysts’ expectations of C$330.75 million. As a group, research analysts anticipate that Mullen Group will post 0.729999974492513 EPS for the current year.

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 transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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