Shares of Mullen Group Ltd. (TSE:MTL – Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as C$22.37 and last traded at C$21.85, with a volume of 1195065 shares changing hands. The stock had previously closed at C$21.94.
Wall Street Analysts Forecast Growth
MTL has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Acumen Capital raised their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. National Bank Financial raised their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price objective on shares of Mullen Group from C$18.00 to C$20.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Desjardins raised their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Mullen Group presently has an average rating of “Moderate Buy” and a consensus price target of C$20.67.
Check Out Our Latest Report on Mullen Group
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$547.70 million during the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.
Mullen Group Announces Dividend
The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio (DPR) is currently 82.35%.
Insiders Place Their Bets
In other news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the transaction, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is owned by corporate insiders.
Mullen Group Company Profile
Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.
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