Mullen Group Ltd. to Issue Monthly Dividend of $0.07 (TSE:MTL)

Mullen Group Ltd. (TSE:MTLGet Free Report) announced a monthly dividend on Friday, September 20th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.07 per share on Tuesday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend is Monday, September 30th.

Mullen Group Trading Down 0.5 %

TSE:MTL opened at C$14.10 on Friday. The company’s 50 day moving average is C$14.29 and its 200-day moving average is C$13.79. The company has a quick ratio of 1.06, a current ratio of 0.75 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$15.71. The firm has a market cap of C$1.24 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.81 and a beta of 1.83.

Mullen Group (TSE:MTLGet Free Report) last announced its earnings results on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.07. The firm had revenue of C$495.60 million for 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%. Equities analysts anticipate that Mullen Group will post 1.3028105 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MTL shares. CIBC boosted their price objective on Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. Cormark upped their price target on Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. BMO Capital Markets upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$14.50 to C$17.00 in a research note on Friday, July 26th. TD Securities cut their target price on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada raised their price target on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.22.

Read Our Latest Stock Report on MTL

About Mullen Group

(Get Free Report)

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.

Further Reading

Dividend History for Mullen Group (TSE:MTL)

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