FY2022 EPS Estimates for Mullen Group Ltd. (TSE:MTL) Cut by Analyst

Mullen Group Ltd. (TSE:MTL – Get Rating) – Research analysts at Cormark lowered their FY2022 earnings per share estimates for shares of Mullen Group in a research report issued to clients and investors on Tuesday, January 17th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $1.30 for the year, down from their prior estimate of $1.35. The consensus estimate for Mullen Group’s current full-year earnings is $1.32 per share. Cormark also issued estimates for Mullen Group’s Q4 2022 earnings at $0.32 EPS and Q4 2023 earnings at $0.29 EPS.

A number of other equities analysts also recently issued reports on MTL. Royal Bank of Canada downgraded Mullen Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$17.00 to C$13.00 in a research note on Friday, October 21st. TD Securities downgraded Mullen Group from a “buy” rating to a “hold” rating and set a C$17.00 target price for the company. in a research note on Wednesday, December 21st. Raymond James cut their target price on Mullen Group from C$18.00 to C$17.00 and set a “strong-buy” rating for the company in a research note on Tuesday. BMO Capital Markets downgraded Mullen Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$17.00 to C$15.00 in a research note on Tuesday. Finally, CIBC dropped their price objective on Mullen Group from C$15.50 to C$14.00 and set a “neutral” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$16.20.

Mullen Group Stock Performance

Shares of MTL stock opened at C$13.69 on Friday. The company has a market cap of C$1.27 billion and a price-to-earnings ratio of 11.31. The stock has a 50 day simple moving average of C$14.96 and a 200-day simple moving average of C$14.34. Mullen Group has a 12-month low of C$10.83 and a 12-month high of C$15.98. The company has a current ratio of 1.30, a quick ratio of 1.06 and a debt-to-equity ratio of 85.20.

Mullen Group (TSE:MTL – Get Rating) last issued its earnings results on Thursday, October 20th. The company reported C$0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.09. The business had revenue of C$518.40 million for the quarter, compared to analysts’ expectations of C$522.65 million.

Mullen Group Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, January 16th. Shareholders of record on Saturday, December 31st were issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Thursday, December 29th. Mullen Group’s dividend payout ratio (DPR) is presently 51.24%.

About Mullen Group

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Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.