Mullen Group (TSE:MTL) Hits New 12-Month High Following Analyst Upgrade

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) hit a new 52-week high during trading on Friday after BMO Capital Markets raised their price target on the stock from C$17.00 to C$20.00. The stock traded as high as C$15.72 and last traded at C$15.53, with a volume of 283532 shares trading hands. The stock had previously closed at C$15.51.

Other equities research analysts also recently issued reports about the company. CIBC boosted their target price on Mullen Group from C$16.50 to C$17.50 in a research report on Friday. Cormark boosted their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Raymond James boosted their target price on shares of Mullen Group from C$17.25 to C$18.75 in a report on Friday. Finally, TD Securities lowered their price target on shares of 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Mullen Group currently has a consensus rating of "Moderate Buy" and a consensus target price of C$18.86.

Mullen Group Stock Down 1.6 %

The firm has a market cap of C$1.34 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a 50-day simple moving average of C$14.31 and a 200-day simple moving average of C$13.78. 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 (TSE:MTL - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.30 by C$0.07. The company had revenue of C$495.60 million during the quarter, compared to analysts' expectations of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Thursday, October 31st. Mullen Group's dividend payout ratio is currently 62.69%.

About Mullen Group

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.