Magellan Aerospace (TSE:MAL) Hits New 12-Month High – Time to Buy?

Shares of Magellan Aerospace Co. (TSE:MAL) reached a new 52-week high on Thursday . The company traded as high as C$27.90 and last traded at C$27.85, with a volume of 34004 shares trading hands. The stock had previously closed at C$26.67.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MAL shares. TD Securities lifted their price objective 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. TD raised their target price on Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, ATB Cormark Capital Markets upgraded Magellan Aerospace to a “moderate buy” rating in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$27.50.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55. The company’s 50-day moving average price is C$24.26 and its 200-day moving average price is C$21.23. The company has a market cap of C$1.63 billion, a P/E ratio of 36.18, a P/E/G ratio of -21.36 and a beta of 0.76.

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

Magellan Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace’s payout ratio is 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.