Mullen Group FY2024 EPS Estimate Increased by Raymond James

Mullen Group Ltd. (TSE:MTL) – Analysts at Raymond James lifted their FY2024 earnings estimates for shares of Mullen Group in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now forecasts that the company will post earnings per share of $1.23 for the year, up from their prior forecast of $1.22.

Mullen Group (TSE:MTL) last released its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The company had revenue of C$495.60 million for the quarter, compared to the consensus estimate of C$490.50 million.

MTL has been the subject of a number of other reports. BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. TD Securities decreased their target price on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Cormark increased their target price on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. CIBC boosted their price target on Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$18.25.

Mullen Group Trading Down 1.2 %

TSE MTL opened at C$14.40 on Thursday. The firm has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. Mullen Group has a one year low of C$12.47 and a one year high of C$15.71. The company’s 50 day moving average price is C$14.31 and its 200 day moving average price is C$13.78.

Mullen Group Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.84 dividend on an annualized basis and a yield of 5.83%. Mullen Group’s dividend payout ratio (DPR) is 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.