Magellan Aerospace (TSE:MAL) Sets New 1-Year High – Still a Buy?

Magellan Aerospace Co. (TSE:MAL) shares hit a new 52-week high during mid-day 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Securities upped their price objective on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets raised shares of Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. Finally, TD upped their price objective on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$27.50.

Magellan Aerospace Price Performance

The stock’s 50-day simple moving average is C$25.05 and its 200 day simple moving average is C$21.78. 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 company has a market cap of C$1.86 billion, a price-to-earnings ratio of 41.22, a PEG ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL) last posted its 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 company had revenue of C$285.10 million for the quarter. On average, equities research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Magellan Aerospace’s dividend payout ratio is presently 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.