Mullen Group (TSE:MTL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Mullen Group Ltd. (TSE:MTL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.81 and traded as high as C$14.15. Mullen Group shares last traded at C$14.15, with a volume of 112,190 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTL shares. Royal Bank Of Canada lowered their price target on Mullen Group from C$16.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Desjardins set a C$18.00 price target on Mullen Group and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Scotiabank cut their price target on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a report on Thursday, April 24th. Raymond James Financial upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from C$17.00 to C$16.75 in a research note on Thursday, April 24th. Finally, Acumen Capital cut their target price on shares of Mullen Group from C$18.75 to C$18.25 and set a “buy” rating for the company in a research note on Thursday, April 24th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Mullen Group presently has a consensus rating of “Buy” and a consensus price target of C$17.30.

Mullen Group Stock Performance

The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. The firm has a 50 day moving average price of C$13.78 and a two-hundred day moving average price of C$13.81. The company has a market capitalization of C$1.26 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.84 annualized dividend and a yield of 5.94%. Mullen Group’s dividend payout ratio is currently 60.92%.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.