Mullen Group (TSE:MTL) Reaches New 1-Year High at $14.15

Mullen Group Ltd. (TSE:MTL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$14.15 and last traded at C$14.15, with a volume of 144449 shares. The stock had previously closed at C$13.81.

A number of research analysts have issued reports on MTL shares. National Bank Financial raised their price target on shares of Mullen Group to C$16.50 and gave the stock an “outperform” rating in a report on Tuesday. CIBC raised their target price on shares of Mullen Group from C$14.75 to C$15.50 in a report on Friday, July 23rd. Cormark raised their target price on shares of Mullen Group from C$15.50 to C$16.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. National Bankshares raised their target price on shares of Mullen Group from C$15.50 to C$16.50 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets set a C$18.00 target price on shares of Mullen Group in a report on Friday, July 23rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Mullen Group presently has an average rating of “Buy” and a consensus price target of C$16.05.

The business’s 50 day moving average price is C$13.35 and its 200-day moving average price is C$13.09. The firm has a market capitalization of C$1.36 billion and a PE ratio of 18.89. The company has a debt-to-equity ratio of 79.41, a quick ratio of 1.01 and a current ratio of 1.27.

Mullen Group (TSE:MTL) last announced its earnings results on Wednesday, July 21st. The company reported C$0.21 earnings per share for the quarter, topping the consensus estimate of C$0.19 by C$0.02. The business had revenue of C$312.50 million for the quarter, compared to analysts’ expectations of C$314.60 million. As a group, analysts anticipate that Mullen Group Ltd. will post 0.9313686 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, September 28th. Mullen Group’s payout ratio is currently 57.46%.

About Mullen Group (TSE:MTL)

Mullen Group Ltd. provides trucking and logistics services in Canada and the United States. The company operates through three segments: Less-Than-Truckload, Logistics & Warehousing, and Specialized & Industrial Services. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.

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