Magellan Aerospace (TSE:MAL) Reaches New 1-Year High – Should You Buy?

Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high on Thursday . The stock traded as high as C$27.58 and last traded at C$27.40, with a volume of 14301 shares. The stock had previously closed at C$26.67.

Analyst Upgrades and Downgrades

MAL has been the topic of several recent analyst reports. ATB Cormark Capital Markets upgraded Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. TD Securities increased 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. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$25.00.

Magellan Aerospace Price Performance

The firm has a 50-day simple moving average of C$23.95 and a 200-day simple moving average of C$20.67. The firm has a market cap of C$1.54 billion, a P/E ratio of 39.03, a PEG ratio of -21.36 and a beta of 0.76. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 10.77.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Friday, March 27th. The company reported C$0.18 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The business had revenue of C$278.33 million for the quarter. As a group, analysts forecast that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Dividend Announcement

The business 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. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Magellan Aerospace’s dividend payout ratio (DPR) is currently 25.36%.

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.