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

Mullen Group Ltd. (TSE:MTL) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$18.33.

A number of equities research analysts recently issued reports on MTL shares. Raymond James lifted their target price on Mullen Group from C$16.50 to C$17.00 in a research report on Friday. National Bankshares lowered their price target on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$14.50 to C$17.00 in a research report on Friday. Royal Bank of Canada boosted their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday. Finally, CIBC boosted their price target on Mullen Group from C$15.50 to C$16.50 in a research report on Friday.

Mullen Group Stock Up 1.3 %

Shares of Mullen Group stock opened at C$14.69 on Friday. The business’s 50 day simple moving average is C$13.10 and its 200 day simple moving average is C$13.95. Mullen Group has a 52-week low of C$12.47 and a 52-week high of C$16.02. The firm has a market cap of C$1.29 billion, a PE ratio of 10.72, a P/E/G ratio of 1.81 and a beta of 1.81. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78.

Mullen Group (TSE:MTL) last announced its earnings results on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. The firm had revenue of C$462.60 million during the quarter, compared to analyst estimates of C$501.00 million. On average, analysts predict that Mullen Group will post 1.2780488 earnings per share for the current fiscal year.

Mullen Group Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.90%. Mullen Group’s dividend payout ratio is currently 52.55%.

Insider Transactions at Mullen Group

In other Mullen Group news, Senior Officer Carson Paul Urlacher bought 25,000 shares of Mullen Group stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of C$12.90 per share, for a total transaction of C$322,500.00. 6.30% of the stock is currently owned by corporate insiders.

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.