Magellan Aerospace (TSE:MAL) Reaches New 52-Week High – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL) shares hit a new 52-week high on Thursday . The stock traded as high as C$27.90 and last traded at C$27.85, with a volume of 34004 shares. The stock had previously closed at C$26.67.

Analyst Ratings Changes

MAL has been the subject of several recent research reports. TD Securities increased their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded shares of Magellan Aerospace to a “moderate buy” rating in a research note on Monday, April 6th. Finally, TD boosted their price target on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$27.50.

Magellan Aerospace Trading Up 7.2%

The firm has a market cap of C$1.63 billion, a P/E ratio of 36.18, a PEG ratio of -21.36 and a beta of 0.76. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The business has a 50 day moving average of C$24.26 and a two-hundred day moving average of C$21.23.

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

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio is currently 25.32%.

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.