Q2 2024 EPS Estimates for Mullen Group Ltd. Cut by Cormark (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Stock analysts at Cormark decreased their Q2 2024 earnings per share estimates for Mullen Group in a note issued to investors on Friday, April 26th. Cormark analyst D. Ocampo now expects that the company will earn $0.33 per share for the quarter, down from their previous estimate of $0.34. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Cormark also issued estimates for Mullen Group’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.49 EPS.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.32 by C$0.02. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. The company had revenue of C$498.60 million for the quarter, compared to the consensus estimate of C$500.00 million.

Other analysts also recently issued reports about the company. Scotiabank reduced their price objective on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. National Bankshares decreased their price objective on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. BMO Capital Markets lowered their price objective on Mullen Group from C$16.00 to C$14.50 in a research report on Friday, April 26th. Acumen Capital reduced their target price on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Raymond James decreased their price target on Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$17.89.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$12.78 on Monday. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76. The business’s fifty day moving average price is C$14.61 and its two-hundred day moving average price is C$14.20. The stock has a market cap of C$1.12 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. Mullen Group has a one year low of C$12.76 and a one year high of C$16.43.

Mullen Group Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, April 29th. This represents a $0.72 annualized dividend and a dividend yield of 5.63%. Mullen Group’s payout ratio is 49.66%.

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.