Mullen Group Ltd. (TSE:MTL) Receives Average Rating of “Buy” from Brokerages

Shares of Mullen Group Ltd. (TSE:MTL) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$17.06.

Several research firms recently issued reports on MTL. TD Securities decreased their price objective on shares of Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Raymond James raised shares of Mullen Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from C$17.00 to C$16.75 in a report on Thursday, April 24th. Acumen Capital decreased their price objective on shares of Mullen Group from C$18.75 to C$18.25 and set a “buy” rating for the company in a report on Thursday, April 24th. CIBC decreased their price target on shares of Mullen Group from C$18.00 to C$15.00 in a research report on Thursday, April 10th. Finally, National Bankshares decreased their price target on shares of Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th.

Mullen Group Price Performance

TSE MTL opened at C$13.09 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69. The company has a fifty day simple moving average of C$12.79 and a 200 day simple moving average of C$14.14. The company has a market cap of C$1.17 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.81 and a beta of 1.82. Mullen Group has a 1 year low of C$11.81 and a 1 year high of C$16.06.

Mullen Group Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 6.42%. Mullen Group’s dividend payout ratio (DPR) is currently 60.92%.

Insider Activity

In other news, Senior Officer Joanna Kathryn Scott acquired 2,000 shares of the firm’s stock in a transaction on 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. In the last three months, insiders have acquired 2,832 shares of company stock worth $37,153. Corporate insiders own 6.32% of the company’s stock.

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.