Mullen Group Ltd. (TSE:MTL – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.88 and traded as high as C$23.18. Mullen Group shares last traded at C$22.95, with a volume of 177,374 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on MTL. Scotiabank boosted their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada boosted their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. National Bank Financial upped their target price on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial upped their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Acumen Capital upped their target price on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$20.67.
View Our Latest Analysis on Mullen Group
Mullen Group Stock Performance
Mullen Group (TSE:MTL – Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$547.70 million for the quarter.
Mullen Group Dividend Announcement
The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. Mullen Group’s dividend payout ratio is currently 82.35%.
Insider Activity at Mullen Group
In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the 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 sale, the director directly owned 7,562 shares of the company’s stock, valued at approximately C$162,583. This represents a 31.64% decrease in their position. Corporate insiders own 6.32% of the company’s stock.
About Mullen Group
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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