Mullen Group Ltd. (MTL) to Issue Monthly Dividend of $0.07 on September 16th

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Friday, August 30th, TickerTech reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.07 per share on Monday, September 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Friday, August 30th. This is a positive change from Mullen Group’s previous monthly dividend of $0.06.

Mullen Group Trading Down 1.1 %

TSE MTL traded down C$0.16 during trading hours on Wednesday, reaching C$14.35. The company’s stock had a trading volume of 102,402 shares, compared to its average volume of 172,126. The firm has a fifty day simple moving average of C$13.77 and a 200-day simple moving average of C$13.89. The stock has a market cap of C$1.26 billion, a P/E ratio of 10.70, a P/E/G ratio of 1.81 and a beta of 1.83. Mullen Group has a 52 week low of C$12.47 and a 52 week high of C$15.71. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The business had revenue of C$495.60 million during the quarter, compared to analyst estimates of C$490.50 million. Equities analysts forecast that Mullen Group will post 1.2195122 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTL. BMO Capital Markets raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. TD Securities lifted their price target on shares of Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Monday, July 29th. CIBC lifted their price target on shares of Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. Finally, Cormark lifted their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$18.33.

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.