Mullen Group Ltd. (TSE:MTL) Declares $0.06 Monthly Dividend

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Thursday, May 23rd, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.06 per share on Monday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, May 31st.

Mullen Group Price Performance

MTL stock traded down C$0.02 during mid-day trading on Friday, hitting C$13.00. The company had a trading volume of 127,999 shares, compared to its average volume of 173,095. The company has a quick ratio of 1.06, a current ratio of 0.78 and a debt-to-equity ratio of 80.16. Mullen Group has a 12-month low of C$12.47 and a 12-month high of C$16.43. The company has a 50-day moving average price of C$13.81 and a 200 day moving average price of C$14.09. The company has a market capitalization of C$1.14 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.81 and a beta of 1.81.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). The company had revenue of C$462.60 million during the quarter, compared to the consensus estimate of C$501.00 million. Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. On average, research analysts anticipate that Mullen Group will post 1.2701092 earnings per share for the current year.

Analysts Set New Price Targets

MTL has been the topic of a number of recent analyst reports. Acumen Capital lowered their price target on shares of Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Raymond James reduced their price target on shares of Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada dropped their target price on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. BMO Capital Markets reduced their price target on Mullen Group from C$16.00 to C$14.50 in a report on Friday, April 26th. Finally, CIBC cut their price objective on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and a consensus target price of C$17.89.

Insiders Place Their Bets

In other news, Senior Officer Carson Paul Urlacher acquired 25,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were bought at an average price of C$12.90 per share, for a total transaction of C$322,500.00. 6.30% of the stock is owned by corporate insiders.

Mullen Group Company Profile

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.