Research Analysts Set Expectations for Mullen Group Ltd.’s Q2 2023 Earnings (TSE:MTL)

Posted by on Jun 24th, 2023

Mullen Group Ltd. (TSE:MTL – Get Rating) – Research analysts at National Bank Financial cut their Q2 2023 earnings estimates for Mullen Group in a research report issued to clients and investors on Wednesday, June 21st. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings of $0.30 per share for the quarter, down from their prior estimate of $0.31. National Bank Financial currently has a “Outperfrom Under Weight” rating on the stock. The consensus estimate for Mullen Group’s current full-year earnings is $1.28 per share. National Bank Financial also issued estimates for Mullen Group’s FY2024 earnings at $1.38 EPS.

Mullen Group (TSE:MTL – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported C$0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.15. Mullen Group had a net margin of 8.52% and a return on equity of 18.99%. The company had revenue of C$497.80 million during the quarter, compared to the consensus estimate of C$479.00 million.

MTL has been the subject of a number of other research reports. CIBC lifted their price target on shares of Mullen Group from C$15.50 to C$16.00 in a research note on Thursday, June 15th. Scotiabank boosted their price objective on shares of Mullen Group from C$17.50 to C$18.00 in a research report on Friday, April 28th. National Bankshares boosted their price objective on shares of Mullen Group from C$18.50 to C$19.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. TD Securities boosted their price objective on shares of Mullen Group from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, BMO Capital Markets upped their price target on shares of Mullen Group from C$15.00 to C$15.50 in a research report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$16.85.

Mullen Group Stock Down 1.6 %

Shares of Mullen Group stock opened at C$15.01 on Friday. Mullen Group has a 52-week low of C$10.83 and a 52-week high of C$16.43. The company has a 50 day moving average of C$15.40 and a 200 day moving average of C$14.88. The company has a quick ratio of 1.06, a current ratio of 1.39 and a debt-to-equity ratio of 80.76. The company has a market capitalization of C$1.36 billion, a P/E ratio of 8.43, a P/E/G ratio of 1.81 and a beta of 1.70.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.72 annualized dividend and a yield of 4.80%. Mullen Group’s dividend payout ratio is currently 40.45%.

Mullen Group Company Profile

(Get Rating)

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 ecommerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation management, inventory management, and warehouse management systems; and warehousing and distribution services.

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Earnings History and Estimates for Mullen Group (TSE:MTL)

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