Mullen Group (TSE:MTL) Reaches New 12-Month High – What’s Next?

Mullen Group Ltd. (TSE:MTL) hit a new 52-week high during trading on Tuesday . The company traded as high as C$15.85 and last traded at C$15.66, with a volume of 12990 shares changing hands. The stock had previously closed at C$15.71.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTL. TD Securities reduced their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. BMO Capital Markets lifted their price objective on Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. Raymond James upped their target price on Mullen Group from C$17.25 to C$18.75 in a research note on Friday, October 25th. Finally, CIBC lifted their price target on shares of Mullen Group from C$16.50 to C$17.50 in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Mullen Group currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.86.

Mullen Group Price Performance

The company has a fifty day moving average price of C$14.86 and a two-hundred day moving average price of C$13.99. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The firm has a market cap of C$1.37 billion, a P/E ratio of 11.72, a PEG ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.39%. Mullen Group’s dividend payout ratio (DPR) is presently 62.69%.

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.