Magellan Aerospace (TSE:MAL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Magellan Aerospace Co. (TSE:MAL) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$31.84 and traded as high as C$33.75. Magellan Aerospace shares last traded at C$32.82, with a volume of 39,668 shares trading hands.

Analyst Ratings Changes

Separately, TD lifted their target price on Magellan Aerospace from C$37.00 to C$45.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Magellan Aerospace has an average rating of “Buy” and a consensus price target of C$38.67.

Magellan Aerospace Stock Down 1.8%

The firm’s 50-day moving average is C$33.33 and its 200 day moving average is C$31.84. The firm has a market capitalization of C$1.87 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of -21.36 and a beta of 1.03. The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. The firm had revenue of C$305.58 million during the quarter. As a group, research analysts forecast that Magellan Aerospace Co. will post 0.97 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Magellan Aerospace’s dividend payout ratio is presently 19.05%.

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.