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

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Thursday, March 21st, Zacks reports. Shareholders of record on Sunday, March 31st will be paid a dividend of 0.06 per share on Monday, April 15th. This represents a $0.72 annualized dividend and a yield of 4.99%. The ex-dividend date is Wednesday, March 27th.

Mullen Group Stock Performance

MTL traded up C$0.10 during trading on Tuesday, hitting C$14.44. The stock had a trading volume of 38,853 shares, compared to its average volume of 144,617. 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 firm has a market capitalization of C$1.27 billion, a P/E ratio of 9.89, a PEG ratio of 1.81 and a beta of 1.77. The company’s 50-day moving average price is C$14.89 and its 200 day moving average price is C$14.04. Mullen Group has a twelve month low of C$12.82 and a twelve month high of C$16.43.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.32 by C$0.02. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. The business had revenue of C$498.60 million for the quarter, compared to analysts’ expectations of C$500.00 million. On average, equities research analysts forecast that Mullen Group will post 1.3490122 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on MTL shares. CIBC upgraded shares of Mullen Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$16.50 to C$17.00 in a 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 company a “buy” rating in a report on Friday, February 16th. Royal Bank of Canada upgraded shares of Mullen Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$15.00 to C$17.00 in a report on Monday, January 22nd. Acumen Capital cut their price objective on shares of Mullen Group from C$19.50 to C$19.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, BMO Capital Markets increased their price objective on shares of Mullen Group from C$15.00 to C$16.00 in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$18.61.

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.