Analysts Set Mullen Group Ltd. (TSE:MTL) Price Target at C$17.83

Shares of Mullen Group Ltd. (TSE:MTL) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$18.33.

MTL has been the topic of several recent research reports. Raymond James increased their price target on Mullen Group from C$16.50 to C$17.00 in a report on Friday. Royal Bank of Canada increased their price objective on Mullen Group from C$16.00 to C$17.00 in a research note on Friday. CIBC increased their price objective on Mullen Group from C$15.50 to C$16.50 in a research note on Friday. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$14.50 to C$17.00 in a research note on Friday. Finally, Scotiabank lowered their price objective on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, April 26th.

Insider Activity at Mullen Group

In other Mullen Group news, Senior Officer Carson Paul Urlacher purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of C$12.90 per share, with a total value of C$322,500.00. 6.30% of the stock is currently owned by company insiders.

Mullen Group Stock Up 1.3 %

Shares of TSE:MTL opened at C$14.69 on Friday. The business’s 50 day simple moving average is C$13.10 and its two-hundred day simple moving average is C$13.95. The firm has a market cap of C$1.29 billion, a P/E ratio of 10.72, a PEG ratio of 1.81 and a beta of 1.81. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78. Mullen Group has a 52-week low of C$12.47 and a 52-week high of C$16.02.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.05). The firm had revenue of C$462.60 million during the quarter, compared to the consensus estimate of C$501.00 million. Mullen Group had a return on equity of 13.19% and a net margin of 6.49%. As a group, research analysts forecast that Mullen Group will post 1.2780488 EPS for the current fiscal year.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Wednesday, July 31st. Mullen Group’s payout ratio is 52.55%.

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.