Mullen Group Ltd. (TSE:MTL – Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.79 and traded as high as C$14.46. Mullen Group shares last traded at C$14.24, with a volume of 174,222 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. BMO Capital Markets raised 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 research report on Friday, July 26th. CIBC upped their price objective on 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 Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. TD Securities cut their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Raymond James raised their price objective on shares of Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.22.
Check Out Our Latest Report on Mullen Group
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last released its quarterly earnings data 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. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The company had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Sell-side analysts expect that Mullen Group Ltd. will post 1.3028105 EPS for the current year.
Mullen Group Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Monday, September 30th. Mullen Group’s dividend payout ratio (DPR) is presently 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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