Mullen Group Ltd. (TSE:MTL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Mullen Group Ltd. (TSE:MTL) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$20.67.

A number of analysts have weighed in on the stock. Raymond James Financial raised their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada raised their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Scotiabank raised their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Acumen Capital lifted their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Mullen Group from C$18.00 to C$20.00 and gave the stock a “neutral” rating in a report on Friday, April 24th.

Mullen Group Stock Performance

Shares of Mullen Group stock opened at C$21.37 on Friday. Mullen Group has a fifty-two week low of C$12.98 and a fifty-two week high of C$23.46. The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The firm has a market capitalization of C$2.05 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.81 and a beta of 1.10. The company’s 50 day moving average price is C$21.26 and its two-hundred day moving average price is C$18.28.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$547.70 million for the quarter.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, April 30th. Mullen Group’s payout ratio is 82.35%.

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the transaction, the director owned 7,562 shares in the company, valued at approximately C$162,583. The trade was a 31.64% decrease in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

About Mullen Group

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.