FY2023 EPS Estimates for Mullen Group Ltd. (TSE:MTL) Decreased by National Bank Financial

Posted by Defense World Staff on Jun 26th, 2023

Mullen Group Ltd. (TSE:MTL – Get Rating) – National Bank Financial cut their FY2023 earnings estimates for shares of Mullen Group in a report released on Wednesday, June 21st. National Bank Financial analyst C. Doerksen now expects that the company will earn $1.27 per share for the year, down from their prior estimate of $1.29. 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.

Mullen Group (TSE:MTL – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported C$0.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of C$479.00 million.

Other equities research analysts have also issued research reports about the stock. TD Securities lifted their target price on shares of Mullen Group from C$16.00 to C$17.00 and gave the company a “hold” rating in a research note on Friday, April 28th. CIBC increased their target price on Mullen Group from C$15.50 to C$16.00 in a research report on Thursday, June 15th. National Bankshares raised their target price on Mullen Group from C$18.50 to C$19.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Scotiabank upped their price target on Mullen Group from C$17.50 to C$18.00 in a research note on Friday, April 28th. Finally, BMO Capital Markets raised their price objective on 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$16.85.

Mullen Group Stock Down 1.6 %

TSE MTL opened at C$15.01 on Monday. The business’s 50-day moving average is C$15.40 and its 200 day moving average is C$14.89. The stock has a market capitalization of C$1.36 billion, a PE ratio of 8.43, a PEG ratio of 1.81 and a beta of 1.70. The company has a debt-to-equity ratio of 80.76, a current ratio of 1.39 and a quick ratio of 1.06. Mullen Group has a 1 year low of C$10.83 and a 1 year high of C$16.43.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.72 annualized dividend and a dividend yield of 4.80%. Mullen Group’s dividend payout ratio is presently 40.45%.

About Mullen Group

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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.