Mullen Group Ltd. (TSE:MTL – Get Free Report) hit a new 52-week high during mid-day trading on Friday after BMO Capital Markets raised their price target on the stock from C$17.00 to C$20.00. The company traded as high as C$15.72 and last traded at C$15.53, with a volume of 283532 shares changing hands. The stock had previously closed at C$15.51.
MTL has been the topic of several other research reports. CIBC lifted their price objective on Mullen Group from C$16.50 to C$17.50 in a report on Friday. Raymond James lifted their price target on shares of Mullen Group from C$17.25 to C$18.75 in a research note on Friday. TD Securities reduced their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Cormark raised their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.86.
Get Our Latest Stock Analysis on Mullen Group
Mullen Group Stock Down 1.6 %
Mullen Group (TSE:MTL – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of C$495.60 million for the quarter, compared to the consensus estimate of C$490.50 million.
Mullen Group Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Thursday, October 31st. Mullen Group’s dividend payout ratio is currently 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.
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