Mullen Group Ltd. (TSE:MTL) Announces Monthly Dividend of $0.06

Mullen Group Ltd. (TSE:MTL – Get Free Report) declared a monthly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Wednesday, July 31st will receive a dividend of $0.06 per share on Thursday, August 15th. This represents a dividend of $0.72 on an annualized basis and a yield of 4.90%. The ex-dividend date for this dividend is Wednesday, July 31st.

Mullen Group up 1.3%

Mullen Group stock opened at CA$14.69 on Monday. The company has a 50-day simple moving average of CA$13.10 and a 200-day simple moving average of CA$13.95. Mullen Group has a 52-week low of CA$12.47 and a 52-week high of CA$16.02. The company has a quick ratio of 1.06, a current ratio of 0.78 and a debt-to-equity ratio of 80.16. The company has a market capitalization of CA$1.29 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-to-government ratio of 1.81 and a beta of 1.81.

Mullen Group (TSE:MTL – Get Free Report) announced its latest financial results on Thursday, April 25th. The company reported earnings per share (EPS) of CA$0.25 for the quarter, which was CA$0.05 lower than the consensus estimate of CA$0.30. Mullen Group reported a net margin of 6.49% and a return on equity of 13.19%. The company had revenue of CA$462.60 million for the quarter, compared to the consensus estimate of CA$501.00 million. Analysts expect Mullen Group to post EPS of 1.2780488 for the current year.

Insider buying and selling at Mullen Group

In related news, executive Carson Paul Urlacher purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of C$12.90 per share, for a total transaction of C$322,500.00. Insiders own 6.30% of the company’s shares.

Wall Street analysts’ opinion

Several equity research analysts have recently commented on the company. CIBC raised its price target on Mullen Group from C$15.50 to C$16.50 in a research note on Friday. Cormark raised its price target on Mullen Group from C$18.75 to C$19.50 in a research report on Friday. BMO Capital Markets raised its rating on Mullen Group from “market perform” to “outperform” and raised its price target on the company from C$14.50 to C$17.00 in a research report on Friday. Scotiabank reduced its price target on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the company in a research note on Friday, April 26th. Finally, Royal Bank of Canada raised its price target on shares of Mullen Group from CA$16.00 to CA$17.00 in a research note issued Friday. One equities research analyst has rated the stock with a hold rating and seven others have rated it with a buy rating. The stock currently has a moderate buy consensus rating and a CA$18.33 consensus price target, according to data from MarketBeat.com.

Check out our latest stock report on Mullen Group

Mullen Group Company Profile

(Get a free report)

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The LTL segment provides general freight consisting of small shipments, parcels and bundles, as well as pharmaceuticals and packaged goods. The Logistics and Warehousing segment offers truckload, specialized transportation, warehouse and fulfillment centers that manage 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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