FY2024 EPS Estimates for Mullen Group Boosted by Scotiabank

Mullen Group Ltd. (TSE:MTL - Free Report) - Analysts at Scotiabank raised their FY2024 earnings estimates for shares of Mullen Group in a report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta now expects that the company will post earnings per share of $1.27 for the year, up from their previous estimate of $1.20. Scotiabank also issued estimates for Mullen Group's FY2025 earnings at $1.20 EPS and FY2026 earnings at $1.25 EPS.

A number of other brokerages also recently commented on MTL. National Bankshares increased their price objective on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. BMO Capital Markets increased their price target on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Cormark cut their price objective on Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. CIBC raised their target price on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Finally, Raymond James dropped their target price on shares of Mullen Group from C$18.75 to C$18.50 in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$18.97.

Mullen Group Price Performance

MTL stock traded up C$0.18 on Monday, hitting C$14.90. 191,725 shares of the company's stock traded hands, compared to its average volume of 160,292. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The stock has a market cap of C$1.31 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 1.81 and a beta of 1.82. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$16.06. The stock has a fifty day moving average of C$15.17 and a 200-day moving average of C$14.38.

Mullen Group Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, October 31st. Mullen Group's dividend payout ratio (DPR) is currently 62.69%.

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.