Mullen Group (TSE:MTL) Sets New 12-Month High – What’s Next?

Shares of Mullen Group Ltd. (TSE:MTL) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$21.70 and last traded at C$21.63, with a volume of 92272 shares traded. The stock had previously closed at C$21.42.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MTL shares. National Bank Financial raised their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Raymond James Financial lifted their price target on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce lifted their price target on shares of Mullen Group from C$18.00 to C$20.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Scotiabank lifted their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Desjardins lifted their price target on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$20.67.

Mullen Group Trading Up 1.1%

The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The business’s 50-day moving average price is C$18.18 and its two-hundred day moving average price is C$16.64. The company has a market capitalization of C$2.08 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.81 and a beta of 0.84.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The company had revenue of C$547.70 million during the quarter.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 15th will be given a dividend of $0.07 per share. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, April 30th. Mullen Group’s payout ratio is currently 82.35%.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.