Mullen Group (TSE:MTL) Shares Pass Above 200 Day Moving Average – Here’s Why

Mullen Group Ltd. (TSE:MTL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$14.31 and traded as high as C$14.83. Mullen Group shares last traded at C$14.80, with a volume of 151,782 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MTL shares. CIBC upped their target price on Mullen Group from C$16.50 to C$17.50 in a research report on Friday, October 25th. National Bankshares raised their price objective on shares of Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. TD Securities decreased their target price on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Cormark lowered their target price on shares of Mullen Group from C$20.75 to C$19.75 in a report on Tuesday, December 10th. Finally, BMO Capital Markets lifted their price target on Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.97.

Mullen Group Trading Up 1.5 %

The stock has a market capitalization of C$1.30 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The firm has a 50-day moving average price of C$15.18 and a 200-day moving average price of C$14.32.

Mullen Group Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 5.68%. The ex-dividend date was Thursday, October 31st. Mullen Group’s dividend payout ratio is 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.