Mullen Group Ltd. (TSE:MTL – Get Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.82 and traded as high as C$14.35. Mullen Group shares last traded at C$14.30, with a volume of 259,284 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms have commented on MTL. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. Raymond James raised their price objective on Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. Cormark lifted their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. Royal Bank of Canada increased their target price on shares of Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Finally, CIBC lifted their price target on shares of Mullen Group from C$15.50 to C$16.50 in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and an average target price of C$18.22.
View Our Latest Stock Analysis on Mullen Group
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.30 by C$0.07. The firm had revenue of C$495.60 million for the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. Analysts predict that Mullen Group Ltd. will post 1.3508103 EPS for the current fiscal year.
Mullen Group Increases Dividend
The firm also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Mullen Group’s previous monthly dividend of $0.06. This represents a $0.84 annualized dividend and a dividend yield of 5.87%. Mullen Group’s payout ratio is currently 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.
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