Mullen Group (TSE:MTL) Sets New 52-Week High – What’s Next?

Mullen Group Ltd. (TSE:MTL) shares reached a new 52-week high during trading on Friday . The company traded as high as C$15.78 and last traded at C$15.69, with a volume of 44149 shares trading hands. The stock had previously closed at C$15.56.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTL. Cormark raised their price target on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. BMO Capital Markets lifted their target price on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. TD Securities lowered their target price on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. CIBC raised their price target on shares of Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. Finally, Raymond James boosted their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.86.

Mullen Group Stock Down 1.0 %

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 firm has a market cap of C$1.35 billion, a PE ratio of 11.49, a P/E/G ratio of 1.81 and a beta of 1.82. The business’s 50-day simple moving average is C$14.47 and its 200 day simple moving average is C$13.81.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, October 31st. 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.