Mullen Group Ltd. (TSE:MTL) Receives C$18.33 Consensus Price Target from Analysts

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

A number of equities research analysts recently commented on the company. Raymond James increased their price target on Mullen Group from C$16.50 to C$17.00 in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Cormark increased their price target on Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. Finally, TD Securities decreased their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th.

Mullen Group Stock Down 0.3 %

Shares of TSE MTL opened at C$14.11 on Monday. Mullen Group has a 52-week low of C$12.47 and a 52-week high of C$15.71. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The business has a fifty day moving average of C$14.09 and a two-hundred day moving average of C$13.83. The stock has a market cap of C$1.24 billion, a PE ratio of 10.53, a PEG ratio of 1.81 and a beta of 1.83.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.30 by C$0.07. The firm had revenue of C$495.60 million during the quarter, compared to the consensus estimate 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 research analysts expect that Mullen Group will post 1.3508103 earnings per share for the current fiscal year.

Mullen Group Increases Dividend

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

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.