Magellan Aerospace (TSE:MAL) Sets New 52-Week High – Time to Buy?

Magellan Aerospace Co. (TSE:MAL)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$34.77 and last traded at C$34.50, with a volume of 7409 shares. The stock had previously closed at C$33.12.

Analyst Upgrades and Downgrades

MAL has been the subject of several research reports. ATB Cormark Capital Markets lifted their target price on Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. TD Securities upped their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Finally, TD raised their price objective on Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Magellan Aerospace presently has a consensus rating of “Buy” and an average price target of C$36.00.

Magellan Aerospace Stock Performance

The company has a market cap of C$1.94 billion, a P/E ratio of 43.08, a PEG ratio of -21.36 and a beta of 1.04. The company has a 50 day moving average price of C$29.68 and a 200-day moving average price of C$24.55. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data 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 for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. Equities analysts expect that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 0.6%. 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.