Mullen Group (TSE:MTL) Hits New 52-Week Low at $10.97

Mullen Group Ltd. (TSE:MTLGet Rating) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$10.97 and last traded at C$11.00, with a volume of 112962 shares trading hands. The stock had previously closed at C$11.23.

MTL has been the subject of several analyst reports. CIBC boosted their price target on shares of Mullen Group from C$13.50 to C$14.00 and gave the company a “neutral” rating in a report on Friday, April 22nd. Raymond James set a C$14.50 price objective on shares of Mullen Group and gave the stock an “outperform” rating in a report on Wednesday, May 4th. 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. 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 price objective for the company. Finally, Cormark upped their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$16.11.

The company has a fifty day simple moving average of C$12.50 and a 200-day simple moving average of 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. The stock has a market cap of C$1.04 billion and a price-to-earnings ratio of 14.20.

Mullen Group (TSE:MTLGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The company reported C$0.21 earnings per share (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, analysts anticipate that Mullen Group Ltd. will post 1.0399999 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend was Monday, May 30th. This is an increase from Mullen Group’s previous monthly dividend of $0.05. Mullen Group’s payout ratio is presently 64.48%.

In other Mullen Group news, Director Philip Scherman bought 3,700 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average price of C$11.86 per share, for a total transaction of C$43,882.00. Following the acquisition, the director now directly owns 4,400 shares of the company’s stock, valued at C$52,184.

About Mullen Group (TSE:MTL)

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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