Magellan Aerospace (TSE:MAL) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$31.01 and traded as high as C$32.65. Magellan Aerospace shares last traded at C$31.99, with a volume of 42,669 shares changing hands.

Analyst Upgrades and Downgrades

Separately, TD raised their price target on shares of Magellan Aerospace from C$37.00 to C$45.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$38.67.

Magellan Aerospace Price Performance

The stock has a fifty day simple moving average of C$34.66 and a two-hundred day simple moving average of C$31.08. The company has a current ratio of 2.52, a quick ratio of 1.55 and a debt-to-equity ratio of 11.18. The company has a market cap of C$1.79 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of -21.36 and a beta of 1.03.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. The business had revenue of C$305.58 million for the quarter. On average, equities analysts predict that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a $0.05 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Magellan Aerospace’s payout ratio is currently 19.05%.

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.