Magellan Aerospace (TSE:MAL) Sets New 12-Month High on Analyst Upgrade

Magellan Aerospace Co. (TSE:MAL) shares hit a new 52-week high on Monday after TD raised their price target on the stock from C$30.00 to C$37.00. TD currently has a buy rating on the stock. Magellan Aerospace traded as high as C$34.34 and last traded at C$34.29, with a volume of 73464 shares changing hands. The stock had previously closed at C$31.96.

A number of other equities analysts also recently commented on the stock. ATB Cormark Capital Markets boosted their target price on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. TD Securities lifted their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Magellan Aerospace currently has an average rating of “Buy” and a consensus target price of C$36.00.

Magellan Aerospace Price Performance

The stock’s 50-day moving average is C$26.33 and its 200 day moving average is C$22.41. 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 stock has a market capitalization of C$1.96 billion, a PE ratio of 43.41, a P/E/G ratio of -21.36 and a beta of 1.01.

Magellan Aerospace (TSE:MAL) last released its quarterly earnings data on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. The company had revenue of C$285.10 million during the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. As a group, equities analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 16th. Magellan Aerospace’s payout ratio is presently 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.