Analysts Set Mullen Group Ltd. (TSE:MTL) PT at C$18.33

Mullen Group Ltd. (TSE:MTL) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$18.33.

A number of equities analysts have recently issued reports on the stock. National Bankshares lowered 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 research report on Friday, April 26th. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$14.50 to C$17.00 in a research report on Friday, July 26th. Scotiabank lowered their price objective on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Finally, Cormark lifted their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th.

Mullen Group Stock Performance

Shares of MTL opened at C$14.47 on Thursday. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The firm has a market cap of C$1.27 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.83. The company’s 50 day simple moving average is C$13.55 and its 200-day simple moving average is C$13.92. Mullen Group has a 12-month low of C$12.47 and a 12-month high of C$15.71.

Mullen Group (TSE:MTL) last announced its earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. The business had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. As a group, equities analysts predict that Mullen Group will post 1.2195122 EPS for the current year.

Mullen Group Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.07 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 5.81%. This is an increase from Mullen Group’s previous monthly dividend of $0.06. Mullen Group’s dividend payout ratio (DPR) is 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.