Magellan Aerospace (TSE:MAL) Share Price Passes Above 200-Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.43 and traded as high as C$35.59. Magellan Aerospace shares last traded at C$34.75, with a volume of 94,717 shares.

Analyst Ratings Changes

Several research analysts recently weighed in on MAL shares. TD lifted their price target on Magellan Aerospace from C$37.00 to C$45.00 and gave the company a “buy” rating in a research report on Friday, August 14th. ATB Cormark Capital Markets increased 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. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$38.67.

Magellan Aerospace Stock Performance

The company has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of -21.36 and a beta of 1.06. The firm has a fifty day simple moving average of C$34.92 and a 200 day simple moving average of C$28.43. The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55.

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

Magellan Aerospace Announces Dividend

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