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

Mullen Group Ltd. (TSE:MTL) – Investment analysts at National Bank Financial issued their Q2 2024 earnings estimates for Mullen Group in a note issued to investors on Thursday, April 25th. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings of $0.29 per share for the quarter. The consensus estimate for Mullen Group’s current full-year earnings is $1.35 per share.

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 during the quarter, compared to analysts’ expectations of C$500.00 million. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%.

A number of other analysts have also weighed in on the company. Royal Bank of Canada lowered 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 note on Friday. Acumen Capital lowered their price objective on shares of Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research report on Friday, February 16th. TD Securities upped their target price on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Cormark raised their price target on shares of Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Finally, Raymond James reduced their price objective on Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Trading Up 0.3 %

Shares of MTL opened at C$13.14 on Monday. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76. The company has a market cap of C$1.16 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.81 and a beta of 1.79. The stock has a fifty day moving average price of C$14.61 and a two-hundred day moving average price of C$14.20. Mullen Group has a 52-week low of C$12.82 and a 52-week high of C$16.43.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend 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 presently 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.