Magellan Aerospace (TSE:MAL) Reaches New 12-Month High – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$34.30 and last traded at C$31.81, with a volume of 58450 shares. The stock had previously closed at C$32.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MAL shares. ATB Cormark Capital Markets raised Magellan Aerospace to a “moderate buy” rating in a research report on Monday, April 6th. TD increased their price target on Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, TD Securities increased their price target 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. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$27.50.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.55 and a current ratio of 2.51. The company has a market cap of C$1.82 billion, a price-to-earnings ratio of 40.27, a PEG ratio of -21.36 and a beta of 0.76. The business has a fifty day moving average price of C$25.46 and a 200 day moving average price of C$21.99.

Magellan Aerospace (TSE:MAL) last posted 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 company had revenue of C$285.10 million during the quarter. As a group, research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Magellan Aerospace’s payout ratio is 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.