Q1 2018 EPS Estimates for Mullen Group Ltd (MTL) Lowered by Cormark
Mullen Group Ltd (TSE:MTL) – Equities researchers at Cormark cut their Q1 2018 earnings per share estimates for Mullen Group in a report issued on Friday. Cormark analyst D. Tyerman now anticipates that the company will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.15. Cormark also issued estimates for Mullen Group’s Q2 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.21 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.86 EPS, FY2020 earnings at $0.96 EPS, FY2021 earnings at $1.04 EPS and FY2022 earnings at $1.10 EPS.
A number of other analysts have also recently weighed in on the company. National Bank Financial cut Mullen Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$18.25 to C$16.50 in a research report on Monday, December 11th. TD Securities reiterated a “hold” rating and set a C$18.00 price target on shares of Mullen Group in a research report on Tuesday, October 31st. CIBC lowered their target price on Mullen Group from C$19.00 to C$18.00 in a research report on Thursday, December 14th. Industrial Alliance Securities lowered their target price on Mullen Group from C$20.00 to C$19.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, December 12th. Finally, Canaccord Genuity lowered their target price on Mullen Group from C$19.00 to C$18.00 in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mullen Group currently has a consensus rating of “Buy” and an average target price of C$16.97.
The firm also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.05 dividend. This is a boost from Mullen Group’s previous monthly dividend of $0.03. This represents a $0.60 annualized dividend and a yield of 4.13%. The ex-dividend date is Tuesday, January 30th. Mullen Group’s dividend payout ratio (DPR) is currently 61.90%.
About Mullen Group
Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.
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