Mullen Group Ltd. (MTL) to Issue Monthly Dividend of $0.07 on October 15th

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Friday, September 20th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.07 per share on Tuesday, October 15th. This represents a $0.84 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Monday, September 30th.

Mullen Group Stock Down 0.5 %

Shares of TSE:MTL traded down C$0.07 during trading on Friday, reaching C$14.10. 169,300 shares of the stock were exchanged, compared to its average volume of 191,157. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$15.71. The stock has a fifty day moving average of C$14.29 and a two-hundred day moving average of C$13.79. The firm has a market cap of C$1.24 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.81 and a beta of 1.83.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The business had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Research analysts anticipate that Mullen Group will post 1.3028105 earnings per share for the current fiscal year.

Analyst Ratings Changes

MTL has been the subject of several recent research reports. TD Securities decreased their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Cormark upped their price target on Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. CIBC upped their price target on Mullen Group from C$15.50 to C$16.50 in a report on Friday, July 26th. BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$14.50 to C$17.00 in a research note on Friday, July 26th. Finally, Raymond James upped their price objective on Mullen Group from C$16.50 to C$17.00 in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$18.22.

Mullen Group Company Profile

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.