Mullen Group (TSE:MTL) Stock Price Passes Above 200 Day Moving Average of $14.60

Mullen Group Ltd. (TSE:MTL – Get Rating)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.60 and traded as high as C$15.51. Mullen Group shares last traded at C$15.35, with a volume of 161,173 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTL. Raymond James lowered their price objective on Mullen Group from C$18.00 to C$17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, January 17th. TD Securities increased their price target on Mullen Group from C$16.00 to C$17.00 and gave the company a “hold” rating in a report on Friday, April 28th. Cormark reduced their target price on Mullen Group from C$19.00 to C$17.00 in a research note on Tuesday, January 17th. BMO Capital Markets increased their target price on Mullen Group from C$15.00 to C$15.50 in a research note on Friday, April 28th. Finally, CIBC raised their price target on Mullen Group from C$14.00 to C$15.50 in a research note on Friday, April 28th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.80.

Mullen Group Stock Performance

The company has a debt-to-equity ratio of 73.17, a current ratio of 1.64 and a quick ratio of 1.06. The firm has a market cap of C$1.41 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 1.81 and a beta of 1.76. The firm has a fifty day simple moving average of C$14.77 and a two-hundred day simple moving average of C$14.60.

Mullen Group (TSE:MTL – Get Rating) last released its earnings results on Thursday, February 9th. The company reported C$0.58 EPS for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.23. The firm had revenue of C$502.70 million for the quarter, compared to analyst estimates of C$496.70 million. On average, analysts expect that Mullen Group Ltd. will post 1.2036889 EPS for the current year.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, May 15th. Investors of record on Sunday, April 30th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, April 28th. Mullen Group’s dividend payout ratio is currently 40.45%.

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.