Magellan Aerospace (TSE:MAL) Announces Earnings Results

Magellan Aerospace (TSE:MAL) released its quarterly earnings data on Monday. The company reported C$0.29 EPS for the quarter, FiscalAI reports. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The company had revenue of C$285.10 million for the quarter.

Magellan Aerospace Stock Performance

Shares of MAL stock opened at C$26.93 on Monday. The business has a 50 day simple moving average of C$23.95 and a 200 day simple moving average of C$20.67. The company has a debt-to-equity ratio of 10.77, a current ratio of 2.75 and a quick ratio of 1.55. The firm has a market capitalization of C$1.54 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. Magellan Aerospace has a 12-month low of C$14.70 and a 12-month high of C$27.84.

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio (DPR) is presently 25.36%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAL. TD Securities raised their target price on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets raised shares of Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace presently has a consensus rating of “Buy” and an average target price of C$25.00.

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.