Raymond James Increases Earnings Estimates for Mullen Group

Mullen Group Ltd. (TSE:MTL) – Research analysts at Raymond James raised their FY2024 earnings per share (EPS) estimates for shares of Mullen Group in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now forecasts that the company will post earnings per share of $1.23 for the year, up from their prior estimate of $1.22.

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

MTL has been the topic of several other reports. BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$14.50 to C$17.00 in a research note on Friday, July 26th. Cormark boosted their target price on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. TD Securities dropped their target price on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. CIBC boosted their target price on Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Mullen Group has an average rating of “Moderate Buy” and a consensus price target of C$18.25.

Mullen Group Stock Up 0.1 %

Shares of MTL stock opened at C$14.57 on Thursday. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$15.71. The stock’s fifty day moving average price is C$14.30 and its 200 day moving average price is C$13.78. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The company has a market cap of C$1.28 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.77%. The ex-dividend date was Monday, September 30th. Mullen Group’s payout ratio is currently 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.