Mullen Group (TSE:MTL) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Mullen Group's stock has crossed above its 200-day moving average, trading as high as C$14.06 before last closing at C$13.90.
• Analysts have varying outlooks on Mullen Group, with price targets ranging from C$16.00 to C$17.25, and currently, the stock has an average rating of "Moderate Buy."
• The company recently declared a $0.07 dividend, resulting in a high dividend yield of 607.0%, with a payout ratio of 74.77%.

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.52 and traded as high as C$14.06. Mullen Group shares last traded at C$13.90, with a volume of 171,094 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTL. Acumen Capital lowered their price target on shares of Mullen Group from C$18.25 to C$17.25 and set a "buy" rating on the stock in a research note on Friday, July 25th. Cibc World Mkts lowered shares of Mullen Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Scotiabank lowered shares of Mullen Group from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from C$16.50 to C$16.00 in a research note on Thursday, July 10th. TD Securities boosted their price objective on shares of Mullen Group from C$18.00 to C$19.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Raymond James Financial set a C$16.75 price objective on shares of Mullen Group and gave the stock an "outperform" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$17.25.

Mullen Group Stock Performance

The firm has a market cap of C$1.21 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.81 and a beta of 0.63. The stock's 50 day moving average is C$13.70 and its 200 day moving average is C$13.54. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69.

Mullen Group Announces Dividend

The business also recently declared a aug 25 dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a $0.07 dividend. The ex-dividend date was Sunday, August 31st. This represents a yield of 607.0%. Mullen Group's dividend payout ratio is 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.