Magellan Aerospace (TSE:MAL) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$30.57 and traded as high as C$34.50. Magellan Aerospace shares last traded at C$34.13, with a volume of 48,294 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD lifted their price objective on shares of 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, the company currently has an average rating of “Buy” and a consensus price target of C$38.67.

Magellan Aerospace Stock Up 0.6%

The firm’s fifty day moving average price is C$34.96 and its 200-day moving average price is C$30.63. The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55. The firm has a market capitalization of C$1.90 billion, a P/E ratio of 31.77, a PEG ratio of -21.36 and a beta of 0.89.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Wednesday, August 12th. The company reported C$0.35 EPS for the quarter. The firm had revenue of C$305.58 million for the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. As a group, equities research analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

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

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.