Mullen Group Ltd. to Issue Monthly Dividend of $0.06 (TSE:MTL)

Mullen Group Ltd. (TSE:MTL – Get Rating) declared a monthly dividend on Tuesday, May 23rd, Zacks reports. Shareholders of record on Wednesday, May 31st will be paid a dividend of 0.06 per share on Thursday, June 15th. This represents a $0.72 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Tuesday, May 30th.

Mullen Group Trading Down 1.4 %

Shares of MTL stock opened at C$15.50 on Thursday. The business’s 50 day moving average is C$14.95 and its two-hundred day moving average is C$14.75. Mullen Group has a twelve month low of C$10.83 and a twelve month high of C$15.98. The company has a market capitalization of C$1.41 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.81 and a beta of 1.76. The company has a current ratio of 1.39, a quick ratio of 1.06 and a debt-to-equity ratio of 80.76.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Mullen Group from C$15.00 to C$15.50 in a research note on Friday, April 28th. Scotiabank lifted their price target on Mullen Group from C$17.50 to C$18.00 in a research note on Friday, April 28th. CIBC lifted their price target on Mullen Group from C$14.00 to C$15.50 in a research note on Friday, April 28th. Royal Bank of Canada lifted their price target on Mullen Group from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research note on Friday, February 10th. Finally, National Bankshares lifted their price target on Mullen Group from C$18.50 to C$19.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and a consensus target price of C$16.80.

Mullen Group Company Profile

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Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.