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

Shares of Mullen Group Ltd. (TSE:MTL) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$21.11.

Several equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. National Bank Financial lifted their target price on Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their target price on Mullen Group from C$21.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Scotiabank increased their price target on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Desjardins raised their price target on Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, April 24th.

Mullen Group Stock Up 4.5%

MTL stock opened at C$24.92 on Thursday. The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. Mullen Group has a 1-year low of C$12.98 and a 1-year high of C$25.00. The firm has a fifty day moving average price of C$22.00 and a two-hundred day moving average price of C$18.90. The firm has a market cap of C$2.39 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.81 and a beta of 1.13.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) 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 for the quarter.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is presently 82.35%.

Insiders Place Their Bets

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is 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.