Mullen Group Ltd. (TSX: MTL), the Services sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. The company received a Buy rating from RBC Capital’s analyst Walter Spracklin, with a C$18 price target.
According to TipRanks.com, Spracklin is a top 100 analyst with an average return of 21.2% and a 79.8% success rate. Spracklin covers the Services sector, focusing on stocks such as Union Pacific Corp, Norfolk Southern, and CSX Corp.
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Currently, the analyst consensus on Mullen Group Ltd. is a Hold with an average price target of C$16.95.
Based on Mullen Group Ltd.’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$1.48 million. In comparison, last year the company had a net profit of C$19.61 million.
Mullen Group Ltd. provides freight trucking, management and oil field services through its subsidiaries. The company operates through two business segments: Oilfield Services and Trucking/Logistics. The Oilfield Services segment provides specialized transportation, drilling, well-servicing and dewatering services to the oil and natural gas industry.
The company’s shares closed on Thursday at C$16.43.
