Shares of Magellan Aerospace Co. (TSE:MAL – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.79 and traded as high as C$8.10. Magellan Aerospace shares last traded at C$8.00, with a volume of 8,665 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, TD Securities upped their target price on shares of Magellan Aerospace from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Wednesday, March 13th.
Get Our Latest Report on Magellan Aerospace
Magellan Aerospace Stock Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last announced its quarterly earnings results on Monday, March 11th. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.07). Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. The company had revenue of C$223.58 million during the quarter, compared to analyst estimates of C$213.90 million. Analysts anticipate that Magellan Aerospace Co. will post 0.7047279 earnings per share for the current year.
Magellan Aerospace Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.025 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.10 dividend on an annualized basis and a yield of 1.25%. Magellan Aerospace’s dividend payout ratio (DPR) is currently 62.50%.
About Magellan Aerospace
Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.
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