Magellan Aerospace (TSE:MAL) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.70 and traded as high as C$10.45. Magellan Aerospace shares last traded at C$10.26, with a volume of 5,113 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities lifted their price objective on shares of Magellan Aerospace from C$16.00 to C$17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Magellan Aerospace Stock Performance

The firm has a market capitalization of C$601.68 million, a PE ratio of 34.20, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 12.92, a current ratio of 2.44 and a quick ratio of 1.55. The business has a 50-day simple moving average of C$9.55 and a 200-day simple moving average of C$8.71.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The business had revenue of C$242.91 million for the quarter. Equities research analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, September 16th. Magellan Aerospace’s payout ratio is currently 33.33%.

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.