Mullen Group Ltd. to Issue Monthly Dividend of $0.06 (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) announced a monthly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.06 per share on Wednesday, May 15th. This represents a $0.72 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Monday, April 29th.

Mullen Group Price Performance

Shares of TSE:MTL traded down C$1.29 on Thursday, hitting C$13.14. The company’s stock had a trading volume of 508,959 shares, compared to its average volume of 139,278. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06. The company has a market capitalization of C$1.16 billion, a PE ratio of 9.08, a PEG ratio of 1.81 and a beta of 1.79. The company has a 50-day simple moving average of C$14.72 and a 200 day simple moving average of C$14.21. Mullen Group has a 1 year low of C$12.82 and a 1 year high of C$16.43.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, topping analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. The business had revenue of C$498.60 million for the quarter, compared to analysts’ expectations of C$500.00 million. Sell-side analysts forecast that Mullen Group will post 1.3498623 EPS for the current fiscal year.

Analysts Set New Price Targets

MTL has been the topic of several analyst reports. BMO Capital Markets boosted their target price on Mullen Group from C$15.00 to C$16.00 in a report on Friday, February 2nd. Acumen Capital reduced their price objective on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research report on Friday, February 16th. National Bankshares upped their price target on Mullen Group from C$19.00 to C$19.50 and gave the stock an “outperform” rating in a research report on Friday, February 16th. CIBC upgraded Mullen Group from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$16.50 to C$17.00 in a research report on Friday, February 16th. Finally, TD Securities increased their price target on Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$18.61.

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.