Mullen Group (TSE:MTL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Mullen Group Ltd. (TSE:MTL) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.24 and traded as high as C$14.77. Mullen Group shares last traded at C$14.69, with a volume of 51,033 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. National Bankshares increased their target price on Mullen Group from C$18.00 to C$19.00 in a report on Monday, December 9th. BMO Capital Markets boosted their price objective on Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. TD Securities reduced 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 report on Wednesday, September 11th. Cormark cut their target price on shares of Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. Finally, Raymond James dropped their target price on Mullen Group from C$18.75 to C$18.50 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.97.

Mullen Group Trading Down 0.5 %

The firm has a market cap of C$1.29 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.81 and a beta of 1.82. The company has a fifty day moving average price of C$15.16 and a 200-day moving average price of C$14.24. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders 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 annualized dividend and a yield of 5.72%. Mullen Group’s dividend payout ratio (DPR) is presently 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.