Mullen Group Ltd. to Post FY2024 Earnings of $1.08 Per Share, Raymond James Forecasts (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Equities researchers at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Mullen Group in a report issued on Thursday, April 25th. Raymond James analyst M. Barth now expects that the company will earn $1.08 per share for the year, down from their prior forecast of $1.23. Raymond James currently has a “Market Perform” rating and a $16.50 price objective on the stock. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

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

Several other research analysts have also recently issued reports on the company. National Bankshares decreased their price target on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating for the company in a research note on Friday. Acumen Capital decreased their price objective on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research report on Friday, February 16th. TD Securities raised their price objective on Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Royal Bank of Canada reduced their price target on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Friday. Finally, Cormark raised their price objective on Mullen Group from C$19.50 to C$20.00 in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Price Performance

Shares of TSE MTL opened at C$13.10 on Monday. Mullen Group has a 1-year low of C$12.82 and a 1-year high of C$16.43. The firm has a market capitalization of C$1.15 billion, a PE ratio of 9.03, a P/E/G ratio of 1.81 and a beta of 1.79. The business’s fifty day moving average price is C$14.64 and its two-hundred day moving average price is C$14.20. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Monday, April 29th. 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.