Mullen Group Ltd. (TSE:MTL – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$18.22.
MTL has been the subject of a number of analyst reports. CIBC lifted their target price on shares of Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. TD Securities cut their target price on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada lifted their target price on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Finally, Raymond James increased their price target on Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th.
View Our Latest Stock Analysis on Mullen Group
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.07. The business had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. As a group, equities research analysts anticipate that Mullen Group will post 1.3508103 earnings per share for the current year.
Mullen Group Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.07 per share. This is an increase from Mullen Group’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 6.02%. Mullen Group’s payout ratio is currently 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.
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