FY2024 Earnings Estimate for Mullen Group Ltd. (TSE:MTL) Issued By Raymond James

Mullen Group Ltd. (TSE:MTL) – Investment analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Mullen Group in a report issued on Thursday, April 25th. Raymond James analyst M. Barth now expects that the company will post earnings of $1.08 per share for the year, down from their prior estimate of $1.23. Raymond James currently has a “Market Perform” rating and a $16.50 target price on the stock. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share. Raymond James also issued estimates for Mullen Group’s FY2025 earnings at $1.13 EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $1.55 EPS and FY2028 earnings at $1.78 EPS.

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

A number of other research firms also recently weighed in on MTL. CIBC cut their target price on Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research report on Friday. Acumen Capital lowered their target price on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Cormark upped their price target on shares of Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. National Bankshares lowered their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$17.89.

Mullen Group Stock Performance

Shares of MTL stock opened at C$13.14 on Monday. Mullen Group has a 12-month low of C$12.82 and a 12-month high of C$16.43. The company has a debt-to-equity ratio of 78.38, a current ratio of 0.76 and a quick ratio of 1.06. The firm has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The business has a 50 day simple moving average of C$14.61 and a 200 day simple moving average of C$14.20.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a yield of 5.48%. Mullen Group’s payout ratio is currently 49.66%.

Mullen Group Company Profile

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.