Mullen Group Ltd. (TSE:MTL) to Post Q2 2024 Earnings of $0.29 Per Share, National Bank Financial Forecasts

Mullen Group Ltd. (TSE:MTL) – National Bank Financial issued their Q2 2024 earnings estimates for shares of Mullen Group in a research note issued on Thursday, April 25th. National Bank Financial analyst C. Doerksen expects that the company will post earnings of $0.29 per share for the quarter. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share.

Several other analysts have also commented on the company. Cormark raised their price objective on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday. CIBC decreased their price target on shares of Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday. TD Securities boosted their price objective on Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, National Bankshares decreased their target price on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research report on Friday. 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

TSE:MTL opened at C$13.10 on Monday. The stock has a market capitalization of C$1.15 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. Mullen Group has a 52 week low of C$12.82 and a 52 week high of C$16.43. The company has a quick ratio of 1.06, a current ratio of 0.76 and a debt-to-equity ratio of 78.38. The stock’s 50-day moving average price is C$14.64 and its 200-day moving average price is C$14.20.

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

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 annualized dividend and a dividend yield of 5.50%. Mullen Group’s dividend payout ratio 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.