Mullen Group (TSE:MTL) Share Price Passes Above 200-Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.24 and traded as high as C$14.77. Mullen Group shares last traded at C$14.69, with a volume of 51,033 shares traded.

Analyst Ratings Changes

MTL has been the subject of several research analyst reports. National Bankshares raised their target price on shares of Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. Cormark cut their price objective on Mullen Group from C$20.75 to C$19.75 in a research report on Tuesday, December 10th. BMO Capital Markets upped their target price on Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. TD Securities lowered their target price on 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. Finally, CIBC upped their price target on Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$18.97.

Mullen Group Stock Performance

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 business has a 50 day moving average price of C$15.16 and a 200 day moving average price of C$14.24. The stock has a market capitalization of C$1.29 billion, a PE ratio of 10.96, a PEG ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Thursday, October 31st. Mullen Group’s dividend payout ratio (DPR) 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.