Magellan Aerospace (TSE:MAL) Hits New 1-Year High – Time to Buy?

Shares of Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high during trading on Wednesday . The company traded as high as C$31.60 and last traded at C$30.20, with a volume of 68420 shares changing hands. The stock had previously closed at C$29.95.

Analyst Upgrades and Downgrades

MAL has been the subject of a number of research reports. ATB Cormark Capital Markets raised shares of Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. TD upped 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. Finally, TD Securities upped their price target on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$27.50.

Magellan Aerospace Trading Up 0.8%

The firm has a market capitalization of C$1.72 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. The stock’s 50-day simple moving average is C$24.70 and its two-hundred day simple moving average is C$21.58. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55.

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

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Magellan Aerospace’s dividend payout ratio is currently 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.