Cormark Comments on Mullen Group Ltd.’s Q2 2024 Earnings (TSE:MTL)

Mullen Group Ltd. (TSE:MTL) – Equities research analysts at Cormark decreased their Q2 2024 earnings estimates for shares of Mullen Group in a research note issued on Friday, April 26th. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $0.33 for the quarter, down from their prior forecast of $0.34. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Cormark also issued estimates for Mullen Group’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.49 EPS.

MTL has been the topic of a number of other research reports. BMO Capital Markets dropped their target price on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday. Raymond James cut their price objective on shares of Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a report on Friday. Acumen Capital dropped their price target on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. National Bankshares reduced their price objective on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Scotiabank dropped their target price on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$17.89.

Mullen Group Stock Down 0.2 %

MTL stock opened at C$13.10 on Monday. Mullen Group has a fifty-two week low of C$12.82 and a fifty-two week high of C$16.43. The company has a market capitalization of C$1.15 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The business’s 50 day moving average price is C$14.64 and its two-hundred day moving average price is C$14.20. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 EPS for the quarter, topping analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. The company had revenue of C$498.60 million during the quarter, compared to analyst estimates of C$500.00 million.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.50%. Mullen Group’s dividend payout ratio is currently 49.66%.

About Mullen Group

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.