Magellan Aerospace (TSE:MAL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$24.26 and traded as high as C$34.23. Magellan Aerospace shares last traded at C$34.16, with a volume of 82,044 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MAL. TD raised their price objective on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research note on Monday, June 8th. ATB Cormark Capital Markets increased their target price on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, TD Securities boosted 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 note on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$36.00.

Magellan Aerospace Stock Performance

The stock has a 50-day moving average price of C$29.35 and a 200 day moving average price of C$24.38. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46. The firm has a market capitalization of C$1.90 billion, a price-to-earnings ratio of 42.08, a P/E/G ratio of -21.36 and a beta of 1.01.

Magellan Aerospace (TSE:MAL) last issued its earnings results on Monday, May 11th. The company reported C$0.29 earnings per share 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, analysts forecast that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 16th. Magellan Aerospace’s dividend payout ratio (DPR) 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.