Shares of Mullen Group Ltd. (TSE:MTL – Get Free Report) reached a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from C$17.00 to C$20.00. The company traded as high as C$15.72 and last traded at C$15.53, with a volume of 283532 shares. The stock had previously closed at C$15.51.
Other analysts have also recently issued research reports about the company. Raymond James raised their target price on Mullen Group from C$17.25 to C$18.75 in a research report on Friday. CIBC boosted their target price on shares of Mullen Group from C$16.50 to C$17.50 in a research report on Friday. Cormark boosted their target price 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 boosted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Finally, TD Securities lowered their target price on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.86.
Check Out Our Latest Report on Mullen Group
Mullen Group Stock Performance
Mullen Group (TSE:MTL – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The company had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million.
Mullen Group Dividend Announcement
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 issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is 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.
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