Magellan Aerospace (TSE:MAL) Issues Quarterly Earnings Results

Magellan Aerospace (TSE:MAL) announced its quarterly earnings data on Monday. The company reported C$0.29 earnings per share for the quarter, FiscalAI reports. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The company had revenue of C$285.10 million during the quarter.

Magellan Aerospace Stock Down 5.9%

Shares of TSE MAL opened at C$25.33 on Tuesday. Magellan Aerospace has a 52 week low of C$14.70 and a 52 week high of C$27.84. The business has a 50-day simple moving average of C$24.07 and a two-hundred day simple moving average of C$20.81. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 10.77. The company has a market cap of C$1.45 billion, a P/E ratio of 36.71, a P/E/G ratio of -21.36 and a beta of 0.76.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.8%. Magellan Aerospace’s dividend payout ratio (DPR) is currently 25.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. ATB Cormark Capital Markets raised Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. TD Securities raised their target price on Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$25.00.

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.