Mullen Group (TSE:MTL) Sets New 52-Week High - Still a Buy?

Key Points

• 52-week high: Mullen Group's stock hit a new high of C$17.84 and multiple analysts have raised targets (average target C$17.95), with five Buy and three Hold ratings producing a consensus "Moderate Buy".
• Yield vs. risk: The company pays a monthly C$0.07 dividend (about a 4.7% yield) but carries a high payout ratio (84%) and elevated debt-to-equity (111.51), indicating income appeal offset by leverage and payout risk; P/E is 17.76 and market cap is C$1.70 billion.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.84 and last traded at C$17.82, with a volume of 23009 shares trading hands. The stock had previously closed at C$17.49.

Wall Street Analyst Weigh In

MTL has been the topic of a number of research reports. Scotiabank raised their price target on Mullen Group from C$16.00 to C$18.50 and gave the company a "sector perform" rating in a research report on Wednesday, January 21st. Desjardins raised their price target on Mullen Group from C$18.00 to C$19.00 and gave the company a "buy" rating in a research report on Friday, December 12th. National Bank Financial raised their price target on Mullen Group from C$16.50 to C$19.00 and gave the company an "outperform" rating in a research report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce raised their price target on Mullen Group from C$15.00 to C$17.00 in a research report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$17.95.

Mullen Group Stock Up 1.5%

The stock has a 50-day simple moving average of C$16.91 and a two-hundred day simple moving average of C$15.68. 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$1.70 billion, a PE ratio of 17.76, a P/E/G ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL - Get Free Report) last released its quarterly earnings results 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 issued a $0.07 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 4.7%. Mullen Group's 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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