Research Analysts Offer Predictions for Mullen Group Ltd.’s Q2 2024 Earnings (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Equities researchers at National Bank Financial reduced their Q2 2024 earnings estimates for shares of Mullen Group in a research report issued on Tuesday, July 9th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings of $0.27 per share for the quarter, down from their previous estimate of $0.29. The consensus estimate for Mullen Group’s current full-year earnings is $1.28 per share. National Bank Financial also issued estimates for Mullen Group’s FY2024 earnings at $1.24 EPS.

Several other research analysts also recently commented on MTL. Royal Bank of Canada dropped their target price on shares of 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 dropped their target price on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday, April 26th. Raymond James dropped their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a report on Friday, April 26th. National Bankshares dropped their target price on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Scotiabank dropped their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.83.

Mullen Group Stock Up 0.5 %

MTL stock opened at C$13.23 on Thursday. The firm has a market cap of C$1.17 billion, a PE ratio of 9.66, a PEG ratio of 1.81 and a beta of 1.81. Mullen Group has a 1 year low of C$12.47 and a 1 year high of C$16.20. The company has a current ratio of 0.78, a quick ratio of 1.06 and a debt-to-equity ratio of 80.16. The company has a fifty day simple moving average of C$12.93 and a 200 day simple moving average of C$13.99.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.05). Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. The business had revenue of C$462.60 million during the quarter, compared to analyst estimates of C$501.00 million.

Insider Transactions at Mullen Group

In other Mullen Group news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average price of C$12.90 per share, with a total value of C$322,500.00. Insiders own 6.30% of the company’s stock.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 5.44%. Mullen Group’s payout ratio is 52.55%.

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.