Mullen Group (TSE:MTL) Trading Down 5.4% – What’s Next?

Mullen Group Ltd. (TSE:MTL)’s share price was down 5.4% during trading on Thursday . The company traded as low as C$13.26 and last traded at C$13.45. Approximately 163,052 shares traded hands during trading, a decline of 17% from the average daily volume of 196,322 shares. The stock had previously closed at C$14.22.

Analysts Set New Price Targets

MTL has been the topic of a number of research reports. Cormark dropped their price objective on shares of Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. BMO Capital Markets increased their price target on shares of Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. National Bankshares boosted their price objective on shares of Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. CIBC raised their target price on Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Finally, Raymond James lowered their price objective on Mullen Group from C$18.75 to C$18.50 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Mullen Group has an average rating of “Moderate Buy” and a consensus target price of C$18.97.

Mullen Group Price Performance

The stock has a fifty day moving average price of C$14.85 and a 200-day moving average price of C$14.66. The firm has a market capitalization of C$1.19 billion, a PE ratio of 10.12, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75.

Mullen Group Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.84 dividend on an annualized basis and a yield of 6.19%. 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.