Mullen Group Ltd. (TSE:MTL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Mullen Group Ltd. (TSE:MTL) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$18.22.

MTL has been the topic of several research analyst reports. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$14.50 to C$17.00 in a research note on Friday, July 26th. CIBC raised their price objective on Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. TD Securities dropped their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Raymond James raised their price objective on Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. Finally, Cormark lifted their price target on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th.

Mullen Group Stock Performance

MTL stock opened at C$14.11 on Monday. The business’s fifty day moving average is C$14.09 and its 200-day moving average is C$13.83. The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. The company has a market cap of C$1.24 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.81 and a beta of 1.83. Mullen Group has a twelve month low of C$12.47 and a twelve month high of C$15.71.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The business had revenue of C$495.60 million for the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. Equities research analysts forecast that Mullen Group will post 1.3508103 EPS for the current year.

Mullen Group Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a $0.07 dividend. This is a boost from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date is Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 5.95%. Mullen Group’s dividend payout ratio (DPR) is presently 62.69%.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.