Magellan Aerospace (TSE:MAL) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.63 and traded as high as C$32.72. Magellan Aerospace shares last traded at C$32.32, with a volume of 36,236 shares traded.

Analysts Set New Price Targets

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

Magellan Aerospace Stock Performance

The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The stock’s 50 day moving average is C$31.35 and its 200 day moving average is C$25.63. The stock has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 40.91, a PEG ratio of -21.36 and a beta of 1.04.

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

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. 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.