Magellan Aerospace (TSE:MAL) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Magellan Aerospace Co. (TSE:MAL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.34 and traded as high as C$36.49. Magellan Aerospace shares last traded at C$36.38, with a volume of 58,305 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MAL. TD Securities raised their price target on shares of 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. TD upped their price objective 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 upped their price objective on shares of 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. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$36.00.

Magellan Aerospace Stock Up 3.6%

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 capitalization of C$2.08 billion, a PE ratio of 46.05, a P/E/G ratio of -21.36 and a beta of 1.04. The stock has a 50-day moving average of C$32.44 and a 200 day moving average of C$26.34.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.The business had revenue of C$285.10 million for the quarter. Sell-side analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given 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 dividend yield of 0.5%. Magellan Aerospace’s dividend payout ratio (DPR) is currently 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.