Mullen Group (TSE:MTL) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$13.77 and traded as high as C$14.44. Mullen Group shares last traded at C$14.40, with a volume of 35,979 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. National Bankshares cut their price objective on Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. TD Securities dropped their price target on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Desjardins set a C$18.00 price objective on shares of Mullen Group and gave the company a “buy” rating in a research report on Thursday, May 22nd. Scotiabank dropped their target price on shares of Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Cormark cut their target price on shares of Mullen Group from C$18.50 to C$17.00 in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$17.30.

Mullen Group Stock Down 0.3%

The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. The stock’s 50-day moving average price is C$13.98 and its two-hundred day moving average price is C$13.77. The stock has a market capitalization of C$1.28 billion, a PE ratio of 10.44, a P/E/G ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Wednesday, April 30th. Mullen Group’s dividend payout ratio (DPR) is presently 60.92%.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.