Mullen Group (TSE:MTL) Shares Pass Above Two Hundred Day Moving Average of $13.87

Shares of Mullen Group Ltd. (TSE:MTL) crossed 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Securities lifted their price objective on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Monday, July 29th. CIBC raised their price target on shares of Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Mullen Group from C$16.00 to C$17.00 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 raised their target price for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. Finally, Raymond James upped their target price on Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$18.33.

Mullen Group Trading Down 1.8 %

The firm has a 50-day moving average of C$13.98 and a 200 day moving average of C$13.87. 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 market capitalization of C$1.22 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.81 and a beta of 1.83.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.07. The company 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%. As a group, equities analysts predict that Mullen Group Ltd. will post 1.2195122 EPS for the current fiscal year.

Mullen Group Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be given a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.06%. This is an increase from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date is Friday, August 30th. 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.