Cormark Comments on Mullen Group Ltd’s Q1 2019 Earnings (MTL)

Mullen Group Ltd (TSE:MTL) – Stock analysts at Cormark issued their Q1 2019 earnings per share estimates for Mullen Group in a research note issued to investors on Tuesday, April 9th. Cormark analyst D. Ocampo expects that the company will post earnings per share of $0.13 for the quarter. Cormark also issued estimates for Mullen Group’s Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.71 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.20 EPS, FY2020 earnings at $0.86 EPS, FY2021 earnings at $0.98 EPS and FY2022 earnings at $1.05 EPS.

Other analysts have also issued reports about the company. TD Securities lifted their target price on Mullen Group from C$12.50 to C$14.00 and gave the stock a “hold” rating in a research report on Thursday, February 7th. GMP Securities lowered their price objective on Mullen Group from C$13.50 to C$12.50 in a report on Friday, February 8th. Canaccord Genuity boosted their price objective on Mullen Group from C$13.50 to C$13.75 in a report on Wednesday, March 20th. BMO Capital Markets lowered their price objective on Mullen Group from C$16.00 to C$13.00 in a report on Friday, February 8th. Finally, National Bank Financial lowered their price objective on Mullen Group from C$16.50 to C$16.00 and set an “outperform” rating for the company in a report on Thursday, February 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Mullen Group has a consensus rating of “Buy” and an average target price of C$15.70.

Shares of TSE MTL opened at C$12.41 on Thursday. Mullen Group has a 1 year low of C$11.26 and a 1 year high of C$16.93. The stock has a market cap of $1.26 billion and a PE ratio of -29.76. The company has a debt-to-equity ratio of 57.03, a quick ratio of 1.61 and a current ratio of 1.94.

Mullen Group (TSE:MTL) last announced its earnings results on Wednesday, February 6th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.18 by C($0.02). The firm had revenue of C$333.30 million during the quarter, compared to analyst estimates of C$330.75 million.

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Thursday, March 28th. Mullen Group’s dividend payout ratio is currently -130.95%.

Mullen Group Company Profile

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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Earnings History and Estimates for Mullen Group (TSE:MTL)

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