Mullen Group (TSE:MTL) Stock Price Crosses Above Two Hundred Day Moving Average of $13.87

Shares of Mullen Group Ltd. (TSE:MTL) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.87 and traded as high as C$14.49. Mullen Group shares last traded at C$14.12, with a volume of 193,448 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Raymond James boosted their target price on shares of Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. CIBC raised their price target on shares of Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$14.50 to C$17.00 in a research report on Friday, July 26th. Finally, TD Securities raised their target price on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Mullen Group presently has a consensus rating of “Moderate Buy” and an average price target of C$18.33.

Mullen Group Stock Down 1.8 %

The firm has a 50-day simple moving average of C$13.98 and a 200 day simple moving average of C$13.87. The company has a market capitalization of C$1.22 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.83. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The firm had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. On average, research analysts predict that Mullen Group Ltd. will post 1.2195122 EPS for the current fiscal year.

Mullen Group Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a $0.07 dividend. This is a boost from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 6.06%. Mullen Group’s payout ratio is 62.69%.

About Mullen Group

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.