Mullen Group Ltd. (TSE:MTL) Announces $0.07 Monthly Dividend

Mullen Group Ltd. (TSE:MTL) announced a monthly dividend on Friday, September 20th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.07 per share on Tuesday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date is Monday, September 30th.

Mullen Group Price Performance

MTL traded down C$0.07 during trading on Friday, reaching C$14.10. 169,300 shares of the company were exchanged, compared to its average volume of 191,157. The company’s 50-day moving average is C$14.29 and its two-hundred day moving average is C$13.79. The company has a market cap of C$1.24 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.81 and a beta of 1.83. The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. Mullen Group has a 12-month low of C$12.47 and a 12-month high of C$15.71.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. The business had revenue of C$495.60 million for the quarter, compared to analysts’ expectations of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. Research analysts forecast that Mullen Group will post 1.3028105 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTL. TD Securities lowered their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Cormark raised their price target on Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$14.50 to C$17.00 in a report on Friday, July 26th. Raymond James raised their price target on Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their price target on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$18.22.

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.