Mullen Group (TSE:MTL) Announces Quarterly Earnings Results

Mullen Group (TSE:MTL) posted its quarterly earnings results on Thursday. The company reported C$0.52 earnings per share (EPS) for the quarter, FiscalAI reports. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%. The company had revenue of C$653.17 million during the quarter.

Mullen Group Stock Performance

TSE MTL opened at C$28.95 on Thursday. The company has a market cap of C$2.79 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.81 and a beta of 0.83. Mullen Group has a 12 month low of C$13.53 and a 12 month high of C$29.11. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The company has a 50-day moving average of C$26.33 and a 200-day moving average of C$23.72.

Insider Buying and Selling

In other news, insider Carson Paul Urlacher purchased 9,500 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was acquired at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the acquisition, the insider owned 90,000 shares in the company, valued at approximately C$2,538,000. This trade represents a 11.80% increase in their ownership of the stock. 6.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTL shares. Scotiabank raised their price target on shares of Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. National Bank Financial boosted their price target on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce lifted their target price on shares of Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Desjardins raised their price target on Mullen Group from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets raised their target price on Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$26.44.

Mullen Group Company Profile

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.