Mullen Group (TSE:MTL) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Mullen Group's stock hit a new 52-week high after Royal Bank of Canada raised its price target from C$17.00 to C$19.00 and maintained an outperform rating; shares traded as high as C$18.36.
• Several analysts (including CIBC, Scotiabank and National Bank Financial) have raised targets, leaving a MarketBeat consensus of "Moderate Buy" with an average price target of C$18.20 and five Buy vs. three Hold ratings.
• The company pays a monthly dividend of C$0.07 (annualized yield ~4.6%) but has a high payout ratio (~84%); Mullen's market cap is about C$1.76 billion and trailing P/E is 18.33.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$17.00 to C$19.00. Royal Bank Of Canada currently has an outperform rating on the stock. Mullen Group traded as high as C$18.36 and last traded at C$18.33, with a volume of 211917 shares traded. The stock had previously closed at C$18.34.

Other research analysts have also recently issued reports about the company. Canadian Imperial Bank of Commerce upped their price target on Mullen Group from C$15.00 to C$17.00 in a research note on Thursday, January 8th. Scotiabank upped their price target on Mullen Group from C$18.50 to C$19.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 9th. Finally, National Bank Financial upped their price target on Mullen Group from C$16.50 to C$19.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$18.20.

Mullen Group Stock Down 0.1%

The business has a 50-day moving average price of C$17.06 and a two-hundred day moving average price of C$15.80. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 111.51. The firm has a market cap of C$1.76 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported C$0.15 earnings per share for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The business had revenue of C$533.88 million for the quarter.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Mullen Group's dividend payout ratio is currently 84.00%.

Mullen Group Company Profile

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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