Mullen Group (TSE:MTL) Hits New 1-Year High – Should You Buy?

Shares of Mullen Group Ltd. (TSE:MTL) reached a new 52-week high during trading on Friday . The stock traded as high as C$15.78 and last traded at C$15.69, with a volume of 44149 shares trading hands. The stock had previously closed at C$15.56.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTL. Cormark increased their target price on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. Royal Bank of Canada lifted their price target on Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. Raymond James boosted their price target on Mullen Group from C$17.25 to C$18.75 in a report on Friday, October 25th. Finally, CIBC raised their price objective on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Mullen Group presently has an average rating of “Moderate Buy” and a consensus price target of C$18.86.

Mullen Group Trading Down 1.0 %

The company has a quick ratio of 1.06, a current ratio of 0.75 and a debt-to-equity ratio of 93.56. The company has a market capitalization of C$1.35 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.81 and a beta of 1.82. The firm’s 50-day moving average price is C$14.46 and its 200 day moving average price is C$13.81.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.84 annualized dividend and a dividend yield of 5.45%. Mullen Group’s payout ratio is currently 62.69%.

About Mullen Group

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.