Mullen Group (TSE:MTL) Hits New 1-Year High – Here’s What Happened

Mullen Group Ltd. (TSE:MTL)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$21.70 and last traded at C$21.63, with a volume of 92272 shares trading hands. The stock had previously closed at C$21.42.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial lifted their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. National Bank Financial lifted their target price on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Scotiabank lifted their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Royal Bank Of Canada lifted their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Mullen Group from C$18.00 to C$20.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$20.67.

Mullen Group Stock Performance

The company has a market cap of C$2.07 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84. The firm’s fifty day moving average is C$18.27 and its 200 day moving average is C$16.68. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. The company had revenue of C$547.70 million during the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Mullen Group Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. Mullen Group’s dividend payout ratio is presently 82.35%.

Insider Activity

In other news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the completion of the sale, the director owned 7,562 shares of the company’s stock, valued at C$162,583. This represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is owned by insiders.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.