Mullen Group Ltd. (TSE:MTL) to Issue $0.06 Monthly Dividend

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Wednesday, June 19th, Zacks reports. Investors of record on Sunday, June 30th will be paid a dividend of 0.06 per share on Monday, July 15th. This represents a $0.72 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend is Friday, June 28th.

Mullen Group Trading Up 0.7 %

Shares of MTL opened at C$12.78 on Friday. The company has a market capitalization of C$1.13 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.81 and a beta of 1.81. Mullen Group has a one year low of C$12.47 and a one year high of C$16.20. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78. The stock has a 50-day moving average price of C$13.17 and a 200 day moving average price of C$14.05.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.05). Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. The firm had revenue of C$462.60 million for the quarter, compared to analyst estimates of C$501.00 million. Sell-side analysts forecast that Mullen Group will post 1.2780488 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTL shares. CIBC cut their price objective on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. 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 note on Friday, April 26th. National Bankshares cut their price objective on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada cut their price objective on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Raymond James dropped 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 report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$17.89.

Insider Transactions at Mullen Group

In other Mullen Group news, Senior Officer Carson Paul Urlacher acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of C$12.90 per share, with a total value of C$322,500.00. Insiders own 6.30% of the company’s stock.

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.