Mullen Group Ltd. (TSE:MTL) Receives C$18.84 Average PT from Brokerages

Mullen Group Ltd. (TSE:MTL) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$18.84.

Several research analysts have issued reports on the stock. Cormark dropped their target price on shares of Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. National Bankshares increased their price objective on shares of Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. Scotiabank reduced their price objective on shares of Mullen Group from C$20.00 to C$19.00 in a research note on Thursday, January 30th. Finally, Raymond James dropped their target price on Mullen Group from C$18.50 to C$17.50 in a research report on Friday, February 14th.

Mullen Group Price Performance

Shares of MTL stock opened at C$12.64 on Friday. The stock has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.81 and a beta of 1.82. 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 has a twelve month low of C$12.42 and a twelve month high of C$16.06. The stock has a fifty day simple moving average of C$13.57 and a two-hundred day simple moving average of C$14.39.

Mullen Group Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were issued a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 6.65%. The ex-dividend date was Friday, February 28th. Mullen Group’s dividend payout ratio is presently 60.92%.

Insider Activity

In related news, Senior Officer Joanna Kathryn Scott acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were purchased at an average cost of C$13.23 per share, with a total value of C$26,460.00. Insiders have purchased a total of 2,832 shares of company stock worth $37,153 over the last 90 days. 6.32% of the stock is currently owned by corporate insiders.

About Mullen Group

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.