Mullen Group Ltd. (TSE:MTL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Mullen Group has a consensus analyst rating of “Moderate Buy”, based on eight covering firms: five buy ratings and three hold ratings. The average 1-year price target is C$21.11.
• The company recently reported quarterly earnings of C$0.20 per share on revenue of C$547.7 million, with a return on equity of 8.72% and net margin of 4.32%.
• Mullen Group also announced a monthly dividend of C$0.07 per share, implying an annualized yield of about 3.4%, while insider activity included a director selling 3,500 shares.

Mullen Group Ltd. (TSE:MTL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$21.11.

Several equities research analysts have issued reports on the company. Acumen Capital lifted their price objective on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Scotiabank increased their target price on Mullen Group from C$19.00 to C$21.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price target on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Raymond James Financial lifted their price target on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Finally, Desjardins increased their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a "buy" rating in a research note on Friday, April 24th.

Mullen Group Stock Performance

Mullen Group stock opened at C$24.92 on Thursday. The firm has a market capitalization of C$2.39 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The stock's 50 day moving average price is C$22.00 and its 200 day moving average price is C$18.90. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. Mullen Group has a one year low of C$12.98 and a one year high of C$25.00.

Mullen Group (TSE:MTL - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. The business had revenue of C$547.70 million for the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 3.4%. Mullen Group's payout ratio is presently 82.35%.

Insider Activity

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the transaction, the director owned 7,562 shares of the company's stock, valued at approximately C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. Company insiders own 6.32% of the company's stock.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.