Magellan Aerospace (TSE:MAL) Reaches New 52-Week High – Time to Buy?

Magellan Aerospace Co. (TSE:MAL)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$17.95 and last traded at C$17.95, with a volume of 18528 shares. The stock had previously closed at C$17.41.

Analyst Upgrades and Downgrades

Separately, TD Securities lifted their price objective on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd.

Magellan Aerospace Price Performance

The business has a 50-day moving average of C$14.66 and a two-hundred day moving average of C$11.88. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81. The firm has a market cap of C$997.50 million, a P/E ratio of 51.59, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.11%. This is a boost from Magellan Aerospace’s previous quarterly dividend of $0.03. Magellan Aerospace’s dividend payout ratio (DPR) is currently 28.61%.

Magellan Aerospace Company Profile

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.