Mullen Group (TSE:MTL) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.97 and traded as high as C$18.37. Mullen Group shares last traded at C$18.26, with a volume of 212,202 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on MTL shares. Canadian Imperial Bank of Commerce boosted their price objective on Mullen Group from C$15.00 to C$17.00 in a research report on Thursday, January 8th. Royal Bank Of Canada boosted their target price on Mullen Group from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Scotiabank boosted their target price on Mullen Group from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. Finally, National Bank Financial boosted their target price on Mullen Group from C$16.50 to C$19.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$18.20.

Mullen Group Stock Performance

The company has a debt-to-equity ratio of 111.51, a current ratio of 2.17 and a quick ratio of 1.06. The stock has a 50 day simple moving average of C$17.15 and a two-hundred day simple moving average of C$15.97. The company has a market cap of C$1.75 billion, a PE ratio of 18.26, a PEG ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.15 earnings per share for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The company had revenue of C$533.88 million during the quarter.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Mullen Group’s dividend payout ratio (DPR) is currently 84.00%.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.