Mullen Group (TSE:MTL) Stock Crosses Above 200-Day Moving Average of $13.92

Mullen Group Ltd. (TSE:MTL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.92 and traded as high as C$14.47. Mullen Group shares last traded at C$14.35, with a volume of 82,774 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently commented on MTL. Scotiabank decreased their price target on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada upped their target price on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$14.50 to C$17.00 in a research report on Friday, July 26th. Cormark boosted their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. Finally, TD Securities increased their price objective on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mullen Group has an average rating of “Moderate Buy” and a consensus price target of C$18.33.

Mullen Group Trading Up 1.9 %

The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The firm has a market cap of C$1.28 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.83. The company’s 50 day moving average price is C$13.69 and its 200 day moving average price is C$13.92.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$495.60 million during the quarter, compared to analysts’ expectations of C$490.50 million. As a group, analysts forecast that Mullen Group Ltd. will post 1.2195122 EPS for the current fiscal year.

Mullen Group Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 5.75%. This is a boost from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date is Friday, August 30th. Mullen Group’s payout ratio is presently 62.69%.

About Mullen Group

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.