Mullen Group (TSE:MTL) Stock Price Down 5.4% – Should You Sell?

Shares of Mullen Group Ltd. (TSE:MTL) fell 5.4% during mid-day trading on Thursday . The company traded as low as C$13.26 and last traded at C$13.45. 163,052 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 196,322 shares. The stock had previously closed at C$14.22.

Analyst Upgrades and Downgrades

MTL has been the subject of several analyst reports. Cormark decreased their price objective on shares of Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. National Bankshares raised their price objective on Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. BMO Capital Markets raised their price target on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Scotiabank lowered their price objective on Mullen Group from C$20.00 to C$19.00 in a research report on Thursday, January 30th. Finally, Raymond James cut their target price on shares of Mullen Group from C$18.75 to C$18.50 in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.97.

Mullen Group Price Performance

The company has a market cap of C$1.19 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The business has a 50 day moving average of C$14.85 and a 200 day moving average of C$14.66. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06.

Mullen Group Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Friday, January 31st. Mullen Group’s payout ratio 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.