FY2024 EPS Estimates for Mullen Group Cut by Raymond James

Mullen Group Ltd. (TSE:MTL) – Investment analysts at Raymond James cut their FY2024 earnings estimates for shares of Mullen Group in a research report issued on Monday, December 9th. Raymond James analyst M. Barth now anticipates that the company will post earnings of $1.25 per share for the year, down from their prior forecast of $1.32. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.19 EPS and FY2026 earnings at $1.45 EPS.

Several other brokerages also recently issued reports on MTL. BMO Capital Markets boosted their price objective on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. TD Securities decreased 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 research report on Wednesday, September 11th. National Bankshares boosted their price target on shares of Mullen Group from C$18.00 to C$19.00 in a report on Monday. CIBC boosted their price target on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Finally, Cormark reduced their target price on Mullen Group from C$20.75 to C$19.75 in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$18.97.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$15.42 on Thursday. The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. The firm has a 50-day simple moving average of C$15.03 and a 200 day simple moving average of C$14.11. Mullen Group has a fifty-two week low of C$12.47 and a fifty-two week high of C$16.06. The company has a market cap of C$1.35 billion, a PE ratio of 11.51, a P/E/G ratio of 1.81 and a beta of 1.82.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, October 31st. Mullen Group’s dividend payout ratio (DPR) 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.