FY2024 EPS Estimates for Mullen Group Cut by Raymond James

Mullen Group Ltd. (TSE:MTL) – Equities researchers at Raymond James cut their FY2024 earnings per share estimates for Mullen Group in a research note issued to investors on Monday, December 9th. Raymond James analyst M. Barth now anticipates that the company will post earnings per share of $1.25 for the year, down from their previous estimate of $1.32. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.19 EPS and FY2026 earnings at $1.45 EPS.

Several other equities analysts have also commented on MTL. Cormark cut their price target on Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday. National Bankshares raised their price target on Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. TD Securities cut their price target on 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. CIBC lifted their target price on Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. Finally, BMO Capital Markets lifted their target price on Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$18.97.

Mullen Group Stock Performance

Shares of Mullen Group stock opened at C$15.41 on Thursday. The firm has a market cap of C$1.35 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.81 and a beta of 1.82. 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 has a 12 month low of C$12.47 and a 12 month high of C$16.06. The stock’s fifty day moving average price is C$15.05 and its 200-day moving average price is C$14.13.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.45%. Mullen Group’s payout ratio 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.