Analysts Set Mullen Group Ltd. (TSE:MTL) PT at C$21.11

Shares of Mullen Group Ltd. (TSE:MTL) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$21.11.

A number of analysts recently weighed in on MTL shares. Scotiabank upped their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. National Bank Financial boosted their price objective on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Desjardins upped their target price on Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Royal Bank Of Canada increased their target price on Mullen Group from C$21.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Acumen Capital raised their target price on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th.

Insider Transactions at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction that occurred 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 sale, the director owned 7,562 shares in the company, valued at C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is owned by company insiders.

Mullen Group Trading Down 0.6%

Shares of MTL stock opened at C$25.47 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65. Mullen Group has a fifty-two week low of C$12.98 and a fifty-two week high of C$25.97. The firm’s 50 day moving average price is C$22.27 and its two-hundred day moving average price is C$19.10. The stock has a market cap of C$2.44 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13.

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

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.07 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is currently 82.35%.

About Mullen Group

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.