Mullen Group Ltd. Plans Monthly Dividend of $0.06 (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.06 per share on Wednesday, May 15th. This represents a $0.72 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Monday, April 29th.

Mullen Group Stock Performance

MTL traded down C$1.41 during trading hours on Thursday, hitting C$13.02. 375,468 shares of the stock were exchanged, compared to its average volume of 137,253. The stock has a 50-day simple moving average of C$14.72 and a 200-day simple moving average of C$14.21. Mullen Group has a 12 month low of C$12.82 and a 12 month high of C$16.43. The stock has a market cap of C$1.15 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06.

Mullen Group (TSE:MTL) last posted its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. The company had revenue of C$498.60 million for the quarter, compared to analysts’ expectations of C$500.00 million. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. Analysts anticipate that Mullen Group will post 1.3498623 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTL has been the topic of a number of recent analyst reports. CIBC upgraded shares of Mullen Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$16.50 to C$17.00 in a research note on Friday, February 16th. BMO Capital Markets lifted their target price on Mullen Group from C$15.00 to C$16.00 in a report on Friday, February 2nd. Raymond James lifted their target price on Mullen Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Scotiabank lifted their target price on Mullen Group from C$19.50 to C$20.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, TD Securities lifted their target price on Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$18.61.

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.