Mullen Group Ltd. (TSE:MTL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Mullen Group Ltd. (TSE:MTLGet Rating) have received a consensus rating of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$16.11.

MTL has been the subject of a number of recent analyst reports. Raymond James set a C$14.50 price objective on shares of Mullen Group and gave the company an “outperform” rating in a report on Wednesday, May 4th. Cormark upped their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. TD Securities started coverage on shares of Mullen Group in a report on Friday, April 22nd. They issued a “buy” rating and a C$16.50 target price on the stock. Scotiabank boosted their target price on shares of Mullen Group from C$15.50 to C$16.00 in a report on Friday, April 22nd. Finally, Royal Bank of Canada upped their price objective on shares of Mullen Group from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd.

TSE MTL opened at C$12.64 on Tuesday. The firm’s fifty day simple moving average is C$12.69 and its two-hundred day simple moving average is C$12.23. The company has a current ratio of 1.19, a quick ratio of 0.99 and a debt-to-equity ratio of 88.06. Mullen Group has a 12-month low of C$11.00 and a 12-month high of C$14.48. The firm has a market capitalization of C$1.17 billion and a P/E ratio of 15.98.

Mullen Group (TSE:MTLGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The company reported C$0.21 EPS for the quarter, topping the consensus estimate of C$0.15 by C$0.06. The company had revenue of C$456.90 million for the quarter, compared to analyst estimates of C$396.80 million. As a group, sell-side analysts predict that Mullen Group will post 1.0399999 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.70%. This is an increase from Mullen Group’s previous monthly dividend of $0.05. The ex-dividend date is Monday, May 30th. Mullen Group’s dividend payout ratio (DPR) is 64.48%.

About Mullen Group (Get Rating)

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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