Mullen Group (TSE:MTL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Mullen Group Ltd. (TSE:MTL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.54 and traded as high as C$16.87. Mullen Group shares last traded at C$16.71, with a volume of 181,198 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. National Bank Financial lifted their price objective on shares of Mullen Group from C$16.50 to C$19.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets increased their target price on shares of Mullen Group from C$16.00 to C$18.00 in a report on Monday, December 8th. Desjardins raised their price target on shares of Mullen Group from C$18.00 to C$19.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Raymond James Financial downgraded shares of Mullen Group from a “moderate buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Scotiabank increased their price objective on Mullen Group from C$16.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$17.95.

Mullen Group Stock Performance

The firm has a market capitalization of C$1.65 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 1.81 and a beta of 0.84. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 111.51. The stock has a 50-day moving average price of C$16.85 and a 200 day moving average price of C$15.57.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, February 12th. The company reported C$0.15 earnings per share for the quarter. Mullen Group had a net margin of 4.27% and a return on equity of 8.68%. The firm had revenue of C$533.88 million for the quarter.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were issued a $0.07 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, February 27th. Mullen Group’s dividend payout ratio (DPR) is presently 84.00%.

About Mullen Group

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.