Cormark Equities Analysts Decrease Earnings Estimates for Mullen Group Ltd. (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Investment analysts at Cormark cut their Q2 2024 earnings per share (EPS) estimates for shares of Mullen Group in a research note issued on Friday, April 26th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $0.33 per share for the quarter, down from their previous estimate of $0.34. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Cormark also issued estimates for Mullen Group’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.49 EPS.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, beating the consensus estimate of C$0.32 by C$0.02. The firm had revenue of C$498.60 million during the quarter, compared to the consensus estimate of C$500.00 million. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%.

Several other research analysts have also weighed in on MTL. Royal Bank of Canada reduced their target price on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. TD Securities lifted their price objective on Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a report on Friday, February 16th. Acumen Capital lowered their target price on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Scotiabank cut their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, BMO Capital Markets reduced their price target on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$17.89.

Mullen Group Price Performance

Shares of MTL stock opened at C$12.78 on Monday. The company has a quick ratio of 1.06, a current ratio of 0.76 and a debt-to-equity ratio of 78.38. Mullen Group has a 12-month low of C$12.76 and a 12-month high of C$16.43. The firm has a fifty day moving average of C$14.61 and a 200-day moving average of C$14.20. The firm has a market capitalization of C$1.12 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.06 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.63%. Mullen Group’s dividend payout ratio (DPR) is presently 49.66%.

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.