Mullen Group (TSE:MTL) Hits New 1-Year High - Here's What Happened

Key Points

• Shares hit a new 52-week high, trading as high as C$19.08 (last C$19.02) on Thursday — up about 4.5% with roughly 94,525 shares changing hands.
• Multiple analysts raised price targets to around C$19.00, and the stock carries an average rating of Moderate Buy with an average target of C$18.20.
• Latest quarter showed EPS of C$0.20 on revenue of C$547.7M; the company has a C$1.82B market cap, a P/E of 19.02, and pays a monthly dividend of C$0.07 (annualized yield ~4.4%) though payout ratio (~84%) and debt-to-equity (~111.5%) are elevated.

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$19.08 and last traded at C$19.02, with a volume of 94525 shares trading hands. The stock had previously closed at C$18.20.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MTL shares. Royal Bank Of Canada upped their target price on Mullen Group from C$17.00 to C$19.00 and gave the company an "outperform" rating in a report on Monday, April 13th. National Bank Financial upped their target price on Mullen Group from C$16.50 to C$19.00 and gave the company an "outperform" rating in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce upped their target price on Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. Finally, Scotiabank upped their target price on Mullen Group from C$18.50 to C$19.00 and gave the company a "sector perform" rating in a report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mullen Group currently has an average rating of "Moderate Buy" and an average price target of C$18.20.

Mullen Group Stock Up 4.5%

The company has a market cap of C$1.82 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.81 and a beta of 0.76. The company has a current ratio of 2.17, a quick ratio of 1.06 and a debt-to-equity ratio of 111.51. The business has a fifty day moving average price of C$17.16 and a two-hundred day moving average price of C$15.99.

Mullen Group (TSE:MTL - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The firm had revenue of C$547.70 million for the quarter.

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were issued a $0.07 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 4.4%. Mullen Group's dividend payout ratio is currently 84.00%.

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.

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