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

Magellan Aerospace Co. (TSE:MAL)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$25.10 and traded as high as C$35.87. Magellan Aerospace shares last traded at C$34.95, with a volume of 39,253 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Securities boosted their price objective on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. TD raised their target price on Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, ATB Cormark Capital Markets lifted their target price on Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$36.00.

Magellan Aerospace Stock Performance

The company has a 50 day simple moving average of C$30.77 and a 200-day simple moving average of C$25.16. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55. The stock has a market cap of C$1.93 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of -21.36 and a beta of 1.04.

Magellan Aerospace (TSE:MAL) last posted its quarterly earnings results on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The firm had revenue of C$285.10 million for the quarter. On average, equities analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace’s payout ratio is presently 25.32%.

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.