Mullen Group Ltd. (TSE:MTL – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.82 and traded as high as C$14.35. Mullen Group shares last traded at C$14.30, with a volume of 259,284 shares traded.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on MTL shares. Cormark upped their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. TD Securities decreased their price objective on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$14.50 to C$17.00 in a report on Friday, July 26th. Raymond James upped their price objective on shares of Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th. Finally, CIBC upped their price objective on shares of Mullen Group from C$15.50 to C$16.50 in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Mullen Group presently has an average rating of “Moderate Buy” and a consensus target price of C$18.22.
Get Our Latest Report on Mullen Group
Mullen Group Stock Performance
Mullen Group (TSE:MTL – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. The firm had revenue of C$495.60 million during the quarter, compared to analyst estimates of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. Analysts forecast that Mullen Group Ltd. will post 1.3508103 earnings per share for the current year.
Mullen Group Increases Dividend
The business also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.85%. This is a positive change from Mullen Group’s previous monthly dividend of $0.06. Mullen Group’s dividend payout ratio is currently 62.69%.
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.
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