Mullen Group Ltd. (TSE:MTL) Forecasted to Post FY2024 Earnings of $1.08 Per Share

Mullen Group Ltd. (TSE:MTL) – Raymond James cut their FY2024 earnings per share (EPS) estimates for Mullen Group in a report issued on Thursday, April 25th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $1.08 for the year, down from their prior estimate of $1.23. Raymond James has a “Market Perform” rating and a $16.50 price target on the stock. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

MTL has been the topic of a number of other research reports. Scotiabank cut 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. BMO Capital Markets reduced their price target on Mullen Group from C$16.00 to C$14.50 in a research report on Friday, April 26th. National Bankshares lowered their price objective on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Cormark raised their target price on shares of Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Finally, CIBC dropped their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Price Performance

MTL stock opened at C$12.78 on Monday. The business’s fifty day moving average price is C$14.61 and its 200 day moving average price is C$14.20. Mullen Group has a 12-month low of C$12.76 and a 12-month high of C$16.43. The company has a market capitalization of C$1.12 billion, a PE ratio of 8.81, a P/E/G ratio of 1.81 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 1.06 and a debt-to-equity ratio of 78.38.

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

Mullen Group Announces Dividend

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

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.