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

Mullen Group Ltd. (TSE:MTL)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$13.85 and traded as high as C$15.65. Mullen Group shares last traded at C$15.47, with a volume of 66,575 shares traded.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets raised their price objective on Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. Cormark increased their target price on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. Royal Bank of Canada raised their price target on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. CIBC boosted their price objective on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Finally, TD Securities cut their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.86.

Mullen Group Price Performance

The stock has a market capitalization of C$1.36 billion, a price-to-earnings ratio of 11.54, a PEG 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 stock has a 50-day moving average price of C$14.59 and a 200 day moving average price of C$13.85.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Thursday, October 31st. Mullen Group’s payout ratio is 62.69%.

Mullen Group Company Profile

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.