Magellan Aerospace Co. (TSE:MAL – Get Free Report) shares rose 15% during mid-day trading on Wednesday after TD raised their price target on the stock from C$45.00 to C$46.00. TD currently has a buy rating on the stock. Magellan Aerospace traded as high as C$39.41 and last traded at C$39.36. 183,770 shares traded hands during mid-day trading, an increase of 230% from the average session volume of 55,683 shares. The stock had previously closed at C$34.22.
Magellan Aerospace Price Performance
The stock has a 50 day moving average of C$33.29 and a 200-day moving average of C$29.69. The firm has a market capitalization of C$2.07 billion, a P/E ratio of 34.51, a PEG ratio of -21.36 and a beta of 0.96. The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52.
Magellan Aerospace (TSE:MAL – Get Free Report) last issued its earnings results on Tuesday, November 10th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$300.62 million during the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. Research analysts predict that Magellan Aerospace Co. will post 0.97 earnings per share for the current fiscal year.
Magellan Aerospace Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 0.6%. Magellan Aerospace’s dividend payout ratio (DPR) is 19.05%.
About Magellan Aerospace
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.
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