Mullen Group (TSE:MTL) PT Raised to C$20.00

Mullen Group (TSE:MTL) had its price objective lifted by BMO Capital Markets from C$17.00 to C$20.00 in a report issued on Friday, BayStreet.CA reports.

Several other research analysts have also commented on the stock. Raymond James upped their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a report on Friday. Cormark raised their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. CIBC lifted their price objective on Mullen Group from C$16.50 to C$17.50 in a research report on Friday. TD Securities decreased their target price on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada lifted their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$18.86.

Mullen Group Stock Performance

Mullen Group stock opened at C$15.26 on Friday. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$15.72. The firm has a market cap of C$1.34 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The firm has a 50-day moving average of C$14.33 and a 200-day moving average of C$13.78.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The firm had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Thursday, October 31st. Mullen Group’s dividend payout ratio is presently 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.