Mullen Group (TSE:MTL) Hits New 12-Month High - Here's Why

Key Points

• Mullen Group hit a new 52‑week high — shares traded as high as C$20.68 and last traded at C$20.55 on a volume of about 400,600 shares.
• Analysts have raised price targets and ratings, leaving a MarketBeat consensus of "Moderate Buy" with an average target of C$20.67 (five Buys, three Holds).
• The company announced a monthly dividend of $0.07 (ex‑dividend April 30, payable May 15) implying a ~4.1% yield; the latest quarter delivered C$0.20 EPS on C$547.7M revenue.

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as C$20.68 and last traded at C$20.55, with a volume of 400600 shares. The stock had previously closed at C$20.54.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTL. Canadian Imperial Bank of Commerce lifted their target price on Mullen Group from C$18.00 to C$20.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Acumen Capital lifted their target price on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Scotiabank lifted their target price on Mullen Group from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Raymond James Financial lifted their target price on Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, National Bank Financial lifted their target price on Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Mullen Group currently has a consensus rating of "Moderate Buy" and an average price target of C$20.67.

Mullen Group Trading Up 0.0%

The stock has a market cap of C$1.97 billion, a P/E ratio of 20.15, a PEG ratio of 1.81 and a beta of 0.84. The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The business's 50 day simple moving average is C$17.56 and its 200 day simple moving average is C$16.26.

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

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. Mullen Group's payout ratio is 82.35%.

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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