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

Key Points

• Mullen Group Ltd. (TSE:MTL) stock recently surpassed its 200-day moving average, trading as high as C$13.97 before settling at C$13.87 with a trading volume of 105,837 shares.
• Analysts show mixed opinions with TD Securities raising their target price to C$19.00 while others like CIBC reduced their ratings to "hold," resulting in a consensus rating of "Moderate Buy" and an average price target of C$17.25.
• The company announced a $0.07 per share dividend to be paid on October 15, with a payout ratio of 74.77% and a market capitalization of C$1.21 billion.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.58 and traded as high as C$13.97. Mullen Group shares last traded at C$13.87, with a volume of 105,837 shares trading hands.

Wall Street Analysts Forecast Growth

MTL has been the topic of several analyst reports. TD Securities raised their target price on shares of Mullen Group from C$18.00 to C$19.00 and gave the company a "buy" rating in a report on Friday, July 25th. Cibc World Mkts cut shares of Mullen Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 7th. Scotiabank cut shares of Mullen Group from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from C$16.50 to C$16.00 in a report on Thursday, July 10th. Acumen Capital reduced their target price on shares of Mullen Group from C$18.25 to C$17.25 and set a "buy" rating on the stock in a report on Friday, July 25th. Finally, Raymond James Financial set a C$16.75 target price 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$17.25.

Mullen Group Price Performance

The company has a market capitalization of C$1.21 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.63. 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 company's 50 day simple moving average is C$13.70 and its 200 day simple moving average is C$13.58.

Mullen Group Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.07 per share. Mullen Group's dividend payout ratio (DPR) is presently 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.

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