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

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.07 per share on Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Thursday, October 31st.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$14.19 on Thursday. The business has a fifty day simple moving average of C$14.31 and a 200 day simple moving average of C$13.78. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. Mullen Group has a 1 year low of C$12.47 and a 1 year high of C$15.71. The firm has a market cap of C$1.25 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.81 and a beta of 1.82.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The company had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Raymond James lifted their target price on shares of Mullen Group from C$17.00 to C$17.25 in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. CIBC increased their target price on shares of Mullen Group from C$15.50 to C$16.50 in a research report on Friday, July 26th. TD Securities cut their target price 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. Finally, BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$14.50 to C$17.00 in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$18.25.

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.