Mullen Group FY2024 EPS Forecast Reduced by Raymond James

Mullen Group Ltd. (TSE:MTL) – Equities research analysts at Raymond James cut their FY2024 earnings estimates for shares of Mullen Group in a research report issued to clients and investors on Monday, December 9th. Raymond James analyst M. Barth now anticipates that the company will post earnings per share of $1.25 for the year, down from their prior forecast of $1.32. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.19 EPS and FY2026 earnings at $1.45 EPS.

MTL has been the subject of a number of other reports. Cormark lowered their target price on Mullen Group from C$20.75 to C$19.75 in a research report on Tuesday. National Bankshares increased their target price on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. CIBC increased their target price on Mullen Group from C$16.50 to C$17.50 in a research report on Friday, October 25th. BMO Capital Markets increased their target price on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Finally, TD Securities lowered their price target 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. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$18.97.

Mullen Group Trading Down 0.1 %

Shares of MTL opened at C$15.41 on Thursday. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The firm has a market cap of C$1.35 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. Mullen Group has a 1 year low of C$12.47 and a 1 year high of C$16.06. The company has a 50 day simple moving average of C$15.05 and a two-hundred day simple moving average of C$14.13.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.07 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.84 annualized dividend and a dividend yield of 5.45%. 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.