Mullen Group Ltd. (TSE:MTL) Receives Average Rating of “Moderate Buy” from Analysts

Mullen Group Ltd. (TSE:MTL) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$20.67.

MTL has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price objective on shares of Mullen Group from C$18.00 to C$20.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Raymond James Financial raised their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Scotiabank raised their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Desjardins raised 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 report on Friday, April 24th.

Mullen Group Stock Performance

TSE MTL opened at C$21.25 on Friday. The firm has a market cap of C$2.04 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.81 and a beta of 1.10. The company has a 50 day moving average of C$21.18 and a 200-day moving average of C$18.26. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65. Mullen Group has a 1-year low of C$12.98 and a 1-year high of C$23.46.

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

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. Mullen Group’s dividend payout ratio (DPR) is currently 82.35%.

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the sale, the director owned 7,562 shares of the company’s stock, valued at C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently owned by corporate insiders.

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.