Mullen Group Ltd. (TSE:MTL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Mullen Group Ltd. (TSE:MTL) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$21.11.

MTL has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce raised their price objective on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Raymond James Financial increased their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada raised their price target on shares of Mullen Group from C$21.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Acumen Capital upped their price objective on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Desjardins increased their price objective on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, April 24th.

Insiders Place Their Bets

In related news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. Company insiders own 6.32% of the company’s stock.

Mullen Group Stock Performance

Shares of Mullen Group stock opened at C$25.60 on Thursday. The business’s fifty day simple moving average is C$22.45 and its 200 day simple moving average is C$19.24. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65. Mullen Group has a 12 month low of C$12.98 and a 12 month high of C$25.97. The firm has a market capitalization of C$2.46 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. The firm had revenue of C$609.30 million during the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 3.3%. Mullen Group’s dividend payout ratio is presently 82.35%.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.