Mullen Group Ltd. (TSE:MTL) Announces $0.07 Monthly Dividend

Mullen Group Ltd. (TSE:MTL) announced a monthly dividend on Friday, September 20th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.07 per share on Tuesday, October 15th. This represents a $0.84 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Monday, September 30th.

Mullen Group Stock Down 1.0 %

Shares of MTL stock traded down C$0.14 during trading on Friday, hitting C$14.10. 169,251 shares of the company were exchanged, compared to its average volume of 191,157. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The firm has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.81 and a beta of 1.83. The business’s 50-day simple moving average is C$14.29 and its 200 day simple moving average is C$13.79. Mullen Group has a twelve month low of C$12.47 and a twelve month high of C$15.71.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The business had revenue of C$495.60 million during the quarter, compared to analysts’ expectations of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. As a group, analysts forecast that Mullen Group will post 1.3028105 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$14.50 to C$17.00 in a research note on Friday, July 26th. Raymond James lifted their target price on shares of Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. CIBC lifted their target price on shares of Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Finally, TD Securities reduced 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 research note on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.22.

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.