10 stories mentioning MTL.TO
Every FINWIRES story that references MTL.TO, newest first.
Mullen Group's (MTL.TO) board of directors declared a monthly dividend of $0.07 per common share, it said on Thursday.The dividend, unchanged from the prior month, is payable on June 15, 2026 to shareholders of record at the close of business on May 31, 2026.Price: $21.75, Change: $-0.10, Percent Change: -0.46%
BMO raised its price target on Mullen Group (MTL.TO) shares by $3.00 to $23.00 and maintained an outperform rating on a brightening outlook for the company.The company reported first-quarter results that were in line with expectations, but analyst John Gibson notes that a turn in freight demand during March bodes well for Mullen's broader trucking and logistics businesses."Additionally, we believe the company's energy-levered segment (i.e., Specialized and Industrial) should benefit as projects move forward, including the Alaska LNG project and ongoing nation build in Canada," he adds.Price: $19.94, Change: $+0.50, Percent Change: +2.57%
Analysts at RBC Capital Markets and CIBC Capital Markets raised their price targets on Mullen Group Ltd. (MTL.TO) to $21 from $19, and to $20 from $18, respectively.RBC analyst Walter Spracklin maintained an outperform rating on shares of the Canadian logistics company following its quarterly results on Thursday.The stock rose $1.24, or 6.8%, to $19.44 on the Toronto Stock Exchange."MTL delivered an in-line Q1, with record revenue against a limited-growth macro backdrop," Spracklin said in a note to clients."While the near-term environment remains cautious, we view the improving freight outlook positively, with March trends pointing to a potential strengthening freight environment," the analyst said.CIBC analyst Helena Fu maintained a Neutral rating on the stock."While the freight environment has remained pressured, we view MTL's continued focus on disciplined capital allocation and selective M&A as strategically constructive," Fu said in a note to clients."MTL has had to navigate a multi-year freight recession and lack of activity in Canada's resource sector," the analyst said. "Q1/26 results and management's commentary on its earnings call signal that positive trends are emerging."
Mullen Group (MTL.TO), in the transportation and logistics industries, reported Thursday mixed earnings for the first quarter, but said "the year is off to a good start" as acquisitions are "continuing to drive revenue growth" and added in March "there was growing evidence that the long-awaited freight recession was near the needed inflection point".The company's first-quarter net income was C$21 million, or $0.22 per share basic and diluted, compared to $17.7 million, or $0.20 per share in the corresponding year-ago quarter. It met the consensus forecast at FactSet.For the first quarter, Mullen's adjusted EPS was $0.20 per share, compared with $0.21 per share in the corresponding year-ago quarter.The company's revenue in the first quarter was $547.7 million, compared to $497.1 million in the year-ago quarter. Consensus forecast for sales at FactSet was $544.2 million."The year is off to a good start for our organization with acquisitions continuing to drive revenue growth in the quarter," said Murray Mullen, Chair and Senior Executive Officer. "More importantly, we have added quality companies to our network of independently managed Business Units, a foundation of our acquisition strategy. In addition, the general market conditions showed signs of improving, with demand holding steady and a tightening in supply in several sectors of the trucking and logistics industry. This was evident in the month of March, one of the best months we have seen in a while.""We all know one month is not a trend, but in March there was growing evidence that the long-awaited freight recession was near the needed inflection point," added Mullen. "Demand was solid and supply was tightening. Under this scenario, if it continues, pricing will improve. In saying this we know there are risks on the demand side given the recent increase in fuel prices, which could delay the economic recovery, meaning we must monitor the events very closely. The "Nation Building" narrative is also a positive and from our viewpoint it is only a matter of time as to when these needed projects commence. These projects are all capital intensive and will require a significant logistics component. We will be well positioned to capitalize on the opportunities when they arrive. Until they do, acquisitions will continue to drive growth at Mullen Group."Shares in MTL closed down $0.06 or 0.33% on Wednesday.
Mullen Group (MTL.TO) said Monday its board declared a monthly dividend of $0.07 per share for April, unchanged from March.The dividend is payable on May 15 to shareholders of record at the close of business on April 30, the company said.Price: $18.26, Change: $+0.06, Percent Change: +0.33%
RBC Capital Markets outlined Monday estimate changes for Canadian trucking and diversified industrials equities ahead of the first-quarter earnings reporting season.RBC lowered Cargojet's (CJT.TO) price target to $140 from $143 while maintaining its outperform rating. The EBITDA estimate for the company was also decreased to $80 million from $83 million, driven by indication Canadian consumer spending on discretionary goods is pulling back.The EBITDA estimate for Mullen Group (MTL.TO) remained unchanged at $79 million while its price target increased to $19 from $17 with an outperform rating. RBC expects recent PMI readings and potential infrastructure investment to favorably affect demand and sentiment in the shares.RBC cut Stella-Jones (SJ.TO)'s price target to $93 from $95 and maintained its sector perform rating while its earnings per share estimate was reduced to $1.27 from $1.47. While RBC sees utility pole momentum continuing in 2026, RBC sees the Tie outlook as uncertain and flags risk given aggressive behavior from Stella's main competitor.Meanwhile, the EPS estimate for TFI International (TFII.TO) was unchanged at $0.65 while its price target remained at US$137 with an outperform rating. RBC said it is bullish on recent pricing trends and does not expect management to provide full year 2026 guidance given the uncertain backdrop.Westshore Terminals Investment (WTE.TO)'s price target increased to $39 from $34 while its outperform was maintained. The EBITDA estimate was also unchanged at $29 million.Price: $84.94, Change: $-0.95, Percent Change: -1.11%