Mullen Group (TSE:MTL) Announces Quarterly Earnings Results

Mullen Group (TSE:MTL) posted its quarterly earnings results on Thursday. The company reported C$0.41 earnings per share for the quarter, FiscalAI reports. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.The firm had revenue of C$609.30 million for the quarter.

Mullen Group Stock Up 4.4%

Shares of MTL traded up C$1.13 during trading hours on Thursday, hitting C$26.73. 100,528 shares of the company were exchanged, compared to its average volume of 279,725. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. The company has a market cap of C$2.56 billion, a PE ratio of 26.21, a PEG ratio of 1.81 and a beta of 1.13. The firm’s 50 day moving average is C$22.45 and its 200-day moving average is C$19.24. Mullen Group has a 52 week low of C$12.98 and a 52 week high of C$27.23.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.07 per share. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is 82.35%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTL. Desjardins lifted their target price on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Acumen Capital raised their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. National Bank Financial boosted their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Raymond James Financial boosted their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Scotiabank increased their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$21.11.

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the transaction, the director directly owned 7,562 shares of the company’s stock, valued at approximately C$162,583. This trade represents a 31.64% decrease in their position. Insiders own 6.32% of the company’s stock.

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.