Mullen Group Ltd. (TSE:MTL) to Issue Monthly Dividend of $0.07

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.07 per share on Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 5.92%. The ex-dividend date is Thursday, October 31st.

Mullen Group Stock Performance

TSE:MTL opened at C$14.19 on Thursday. Mullen Group has a 12-month low of C$12.47 and a 12-month high of C$15.71. 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 market capitalization of C$1.25 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The firm has a 50-day moving average price of C$14.31 and a 200 day moving average price of C$13.78.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Mullen Group from C$17.00 to C$17.25 in a report on Tuesday, October 15th. 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. TD Securities dropped their price objective on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada raised their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Finally, BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$14.50 to C$17.00 in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$18.25.

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.