Magellan Aerospace (TSE:MAL) Posts Quarterly Earnings Results

Magellan Aerospace (TSE:MAL) issued its quarterly earnings results on Wednesday. The company reported C$0.35 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$305.58 million during the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.

Magellan Aerospace Trading Up 0.0%

Shares of Magellan Aerospace stock traded up C$0.01 on Wednesday, reaching C$37.74. The company had a trading volume of 27,511 shares, compared to its average volume of 50,424. The firm’s 50 day moving average price is C$33.93 and its two-hundred day moving average price is C$27.54. The firm has a market cap of C$2.15 billion, a PE ratio of 47.77, a PEG ratio of -21.36 and a beta of 1.06. Magellan Aerospace has a 52-week low of C$15.05 and a 52-week high of C$40.51. The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.55 and a current ratio of 2.51.

Magellan Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace’s payout ratio is 25.32%.

Analyst Ratings Changes

Several analysts recently commented on MAL shares. TD raised their target price on Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a “buy” rating in a report on Monday, June 8th. ATB Cormark Capital Markets raised their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace currently has a consensus rating of “Buy” and a consensus target price of C$36.00.

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.