Q2 2024 EPS Estimates for Mullen Group Ltd. (TSE:MTL) Decreased by Analyst

Mullen Group Ltd. (TSE:MTL) – Stock analysts at Cormark lowered their Q2 2024 earnings per share estimates for Mullen Group in a research note issued to investors on Friday, April 26th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $0.33 for the quarter, down from their previous forecast of $0.34. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Cormark also issued estimates for Mullen Group’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.49 EPS.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.

A number of other research analysts have also recently weighed in on MTL. Raymond James reduced their target price on Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a report on Friday. TD Securities lifted their price objective on shares of Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, February 16th. BMO Capital Markets lowered their price target on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday. Acumen Capital cut their price objective on shares of Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, CIBC decreased their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mullen Group presently has an average rating of “Moderate Buy” and a consensus target price of C$17.89.

Mullen Group Price Performance

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 P/E/G ratio of 1.81 and a beta of 1.79. The company’s 50 day simple moving average is C$14.64 and its 200 day simple moving average is C$14.20. Mullen Group has a 1 year low of C$12.82 and a 1 year high of C$16.43. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Monday, April 29th. Mullen Group’s dividend payout ratio is presently 49.66%.

Mullen Group Company Profile

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.