Magellan Aerospace (TSE:MAL) Stock Price Passes Above Two Hundred Day Moving Average of $7.81

Magellan Aerospace Co. (TSE:MAL)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$7.81 and traded as high as C$8.00. Magellan Aerospace shares last traded at C$7.90, with a volume of 11,300 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities upped their price target on shares of Magellan Aerospace from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th.

Magellan Aerospace Price Performance

The stock has a fifty day moving average of C$8.07 and a 200 day moving average of C$7.81. The stock has a market cap of C$451.72 million, a price-to-earnings ratio of 49.38, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 9.96, a current ratio of 2.82 and a quick ratio of 1.55.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings data on Monday, March 11th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The business had revenue of C$223.58 million for the quarter, compared to analyst estimates of C$213.90 million. Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. On average, analysts expect that Magellan Aerospace Co. will post 0.7047279 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.27%. Magellan Aerospace’s payout ratio is currently 62.50%.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.