Mullen Group (TSE:MTL) Sets New 52-Week High - Here's Why

Key Points

• New 52-week high: Mullen Group shares traded as high as C$20.57 intraday and last traded at C$20.39 on volume of 299,395 shares.
• Analyst momentum: Multiple firms raised targets on April 24, leaving a consensus rating of Moderate Buy with an average target of C$20.67 (five Buys, three Holds).
• Dividend yield: The company announced a monthly dividend of $0.07 per share (ex-dividend Apr 30, payable May 15), implying a 4.1% yield and an 82.35% payout ratio.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$20.57 and last traded at C$20.39, with a volume of 299395 shares. The stock had previously closed at C$20.32.

Analyst Ratings Changes

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

Mullen Group Price Performance

The firm's 50-day moving average is C$17.43 and its 200-day moving average is C$16.17. 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 company has a market capitalization of C$1.96 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. The company 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 Announces Dividend

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

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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