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

Mullen Group Ltd. (TSE:MTL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.39 and traded as high as C$16.15. Mullen Group shares last traded at C$16.15, with a volume of 919,944 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Scotiabank boosted their target price on shares of Mullen Group from C$16.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Wednesday, January 21st. BMO Capital Markets upped their price objective on Mullen Group from C$16.00 to C$18.00 in a research report on Monday, December 8th. National Bank Financial increased their price objective on Mullen Group from C$16.50 to C$19.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Raymond James Financial cut Mullen Group from a “moderate buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Canadian Imperial Bank of Commerce upped their price target on Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.95.

Mullen Group Price Performance

The firm has a market capitalization of C$1.55 billion, a PE ratio of 16.15, a P/E/G ratio of 1.81 and a beta of 0.84. The company has a current ratio of 2.17, a quick ratio of 1.06 and a debt-to-equity ratio of 111.51. The company has a fifty day moving average price of C$16.81 and a two-hundred day moving average price of C$15.40.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, February 12th. The company reported C$0.15 EPS for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The company had revenue of C$533.88 million for the quarter.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were given a $0.07 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 5.2%. Mullen Group’s dividend payout ratio is 84.00%.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.