Mullen Group (TSE:MTL) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Mullen Group Ltd.'s stock recently surpassed its 200-day moving average, reaching a high of C$13.89, with current trading at C$13.77.
• Analysts have varied opinions on the stock; Scotiabank downgraded it from "strong-buy" to "hold," while CIBC and TD Securities have increased their price targets.
• The company declared a dividend of $0.07 per share to be paid on September 15th, resulting in an impressive yield of 607.0%.

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.48 and traded as high as C$13.89. Mullen Group shares last traded at C$13.77, with a volume of 201,558 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTL. CIBC raised their price objective on Mullen Group from C$15.00 to C$16.50 in a research note on Thursday, May 22nd. Acumen Capital lowered their price objective on shares of Mullen Group from C$18.25 to C$17.25 and set a "buy" rating on the stock in a research report on Friday, July 25th. Scotiabank lowered shares of Mullen Group from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from C$16.50 to C$16.00 in a research report on Thursday, July 10th. Cibc World Mkts downgraded shares of Mullen Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Finally, Desjardins set a C$18.00 target price on Mullen Group and gave the company a "buy" rating in a research note on Thursday, May 22nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$17.25.

Mullen Group Stock Performance

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$1.19 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.81 and a beta of 0.62. The stock has a fifty day simple moving average of C$13.79 and a two-hundred day simple moving average of C$13.48.

Mullen Group Announces Dividend

The business also recently announced 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 74.77%.

About Mullen Group

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.