Scotiabank Analysts Lift Earnings Estimates for Mullen Group

Mullen Group Ltd. (TSE:MTL) – Analysts at Scotiabank boosted their FY2024 EPS estimates for Mullen Group in a report released on Wednesday, January 8th. Scotiabank analyst K. Gupta now expects that the company will post earnings of $1.27 per share for the year, up from their previous estimate of $1.20. Scotiabank also issued estimates for Mullen Group’s FY2025 earnings at $1.20 EPS and FY2026 earnings at $1.25 EPS.

A number of other equities analysts have also commented on MTL. CIBC raised their price objective on shares of Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. BMO Capital Markets raised their target price on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Raymond James dropped their price target on Mullen Group from C$18.75 to C$18.50 in a research report on Tuesday, December 10th. National Bankshares raised their price objective on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. Finally, Cormark dropped their target price on Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$18.97.

Mullen Group Trading Up 1.2 %

Shares of MTL opened at C$14.90 on Monday. 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 1-year low of C$12.47 and a 1-year high of C$16.06. The stock has a market capitalization of C$1.31 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.81 and a beta of 1.82. The business’s 50-day moving average price is C$15.17 and its 200 day moving average price is C$14.38.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date of this dividend was Thursday, October 31st. 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.