Magellan Aerospace (TSE:MAL) Issues Earnings Results

Magellan Aerospace (TSE:MAL) posted its quarterly earnings results on Wednesday. The company reported C$0.35 EPS for the quarter, FiscalAI reports. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The company had revenue of C$305.58 million for the quarter.

Magellan Aerospace Price Performance

MAL traded up C$2.00 on Friday, reaching C$43.87. The company had a trading volume of 76,408 shares, compared to its average volume of 51,224. The business has a 50 day simple moving average of C$34.20 and a 200 day simple moving average of C$27.78. Magellan Aerospace has a 52-week low of C$15.05 and a 52-week high of C$45.70. The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.55 and a current ratio of 2.51. The company has a market cap of C$2.50 billion, a price-to-earnings ratio of 55.53, a P/E/G ratio of -21.36 and a beta of 1.06.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 0.5%. Magellan Aerospace’s dividend payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. ATB Cormark Capital Markets upped their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. TD boosted their price objective on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Magellan Aerospace currently has a consensus rating of “Buy” and a consensus price target of C$36.00.

Magellan Aerospace Company Profile

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.