Mullen Group (TSE:MTL) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.39 and traded as high as C$16.15. Mullen Group shares last traded at C$16.15, with a volume of 919,944 shares.

Wall Street Analysts Forecast Growth

MTL has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of Mullen Group from C$16.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. BMO Capital Markets upped their target price on shares of Mullen Group from C$16.00 to C$18.00 in a research note on Monday, December 8th. Desjardins raised their price target on shares of Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Canadian Imperial Bank of Commerce lifted their price objective on Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. Finally, National Bank Financial lifted their price objective on Mullen Group from C$16.50 to C$19.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$17.95.

Mullen Group Stock Performance

The stock has a fifty day simple moving average of C$16.81 and a 200-day simple moving average of C$15.39. The stock has a market cap of C$1.55 billion, a P/E ratio of 16.15, a PEG ratio of 1.81 and a beta of 0.84. The company has a debt-to-equity ratio of 111.51, a quick ratio of 1.06 and a current ratio of 2.17.

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

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were given a $0.07 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, February 27th. Mullen Group’s payout ratio 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.