Mullen Group (TSE:MTL) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Mullen Group Ltd. shares have crossed above their 200-day moving average, trading at C$13.72 with a recent high of C$13.80.
• Analyst ratings for Mullen Group vary, with six analysts giving it a "Buy" rating, while two downgraded their recommendations to "Hold" recently.
• The company announced a dividend of $0.07 per share, with a high dividend yield of 607.0%, payable on September 15th.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.49 and traded as high as C$13.80. Mullen Group shares last traded at C$13.72, with a volume of 129,742 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank lowered Mullen Group from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from C$16.50 to C$16.00 in a research report on Thursday, July 10th. Acumen Capital lowered their price target on shares of Mullen Group from C$18.25 to C$17.25 and set a "buy" rating for the company in a report on Friday, July 25th. Cibc World Mkts downgraded shares of Mullen Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 7th. CIBC increased their price target on shares of Mullen Group from C$15.00 to C$16.50 in a report on Thursday, May 22nd. Finally, Raymond James Financial set a C$16.75 price target on shares of Mullen Group and gave the company an "outperform" rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$17.25.

Mullen Group Stock Down 0.1%

The company's fifty day simple moving average is C$13.72 and its 200-day simple moving average is C$13.50. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06. The firm has a market capitalization of C$1.21 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.63.

Mullen Group Dividend Announcement

The company also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be issued a $0.07 dividend. This represents a yield of 607.0%. The ex-dividend date of this dividend is Sunday, August 31st. Mullen Group's payout ratio is currently 74.77%.

Mullen Group Company Profile

Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.