Mullen Group Ltd. Expected to Post Q3 2024 Earnings of $0.39 Per Share (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Research analysts at National Bank Financial issued their Q3 2024 earnings estimates for Mullen Group in a note issued to investors on Thursday, July 25th. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings of $0.39 per share for the quarter. The consensus estimate for Mullen Group’s current full-year earnings is $1.28 per share. National Bank Financial also issued estimates for Mullen Group’s FY2025 earnings at $1.48 EPS.

Other research analysts also recently issued research reports about the company. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Raymond James lifted their price objective on Mullen Group from C$16.50 to C$17.00 in a research report on Friday, July 26th. National Bankshares cut their target price on shares of 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. Finally, Scotiabank lowered their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Mullen Group presently has an average rating of “Moderate Buy” and an average target price of C$18.33.

Mullen Group Price Performance

MTL opened at C$15.05 on Monday. The company has a debt-to-equity ratio of 80.16, a current ratio of 0.78 and a quick ratio of 1.06. The stock has a market capitalization of C$1.33 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.81. The company’s 50 day simple moving average is C$13.18 and its 200-day simple moving average is C$13.96. Mullen Group has a one year low of C$12.47 and a one year high of C$16.02.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.78%. Mullen Group’s dividend payout ratio is 52.55%.

Insider Buying and Selling

In other news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of C$12.90 per share, with a total value of C$322,500.00. 6.30% of the stock is owned by 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.