Mullen Group Ltd. (TSE:MTL) Announces Monthly Dividend of $0.07

Mullen Group Ltd. (TSE:MTL) declared a monthly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.07 per share on Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Thursday, October 31st.

Mullen Group Stock Performance

TSE:MTL opened at C$15.06 on Wednesday. The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The firm has a market cap of C$1.32 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The firm’s fifty day moving average price is C$14.36 and its 200 day moving average price is C$13.78. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$15.72.

Analysts Set New Price Targets

MTL has been the subject of a number of recent analyst reports. Raymond James raised their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. CIBC upped their price objective on Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. BMO Capital Markets raised their target price on Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. Finally, Cormark upped their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. One equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.86.

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.