Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.47 and traded as high as C$9.76. Magellan Aerospace shares last traded at C$9.26, with a volume of 22,967 shares traded.

Wall Street Analyst Weigh In

Separately, TD Securities lifted their price objective on Magellan Aerospace from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Magellan Aerospace Price Performance

The company has a current ratio of 2.44, a quick ratio of 1.55 and a debt-to-equity ratio of 12.92. The firm’s 50-day moving average price is C$10.49 and its 200-day moving average price is C$9.48. The stock has a market capitalization of C$545.69 million, a PE ratio of 31.83, a PEG ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Magellan Aerospace’s payout ratio is 33.33%.

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.