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

Mullen Group Ltd. (TSE:MTL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.80 and traded as high as C$15.47. Mullen Group shares last traded at C$15.34, with a volume of 90,663 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cormark upped their price target on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. Royal Bank of Canada raised their target price on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. BMO Capital Markets boosted their price target on Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. TD Securities dropped their price objective on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Raymond James boosted their target price on shares of Mullen Group from C$17.25 to C$18.75 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$18.86.

Mullen Group Price Performance

The firm has a market capitalization of C$1.35 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The stock’s fifty day moving average price is C$14.42 and its two-hundred day moving average price is C$13.80. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Thursday, October 31st. Mullen Group’s dividend payout ratio (DPR) is 62.69%.

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.