Magellan Aerospace (TSE:MAL) Reaches New 1-Year High – What’s Next?

Shares of Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high during trading on Tuesday . The company traded as high as C$12.75 and last traded at C$12.40, with a volume of 40947 shares traded. The stock had previously closed at C$12.24.

Analyst Ratings Changes

Separately, TD Securities raised their target price on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a “buy” rating in a research report on Monday, March 17th.

Magellan Aerospace Trading Up 1.3 %

The firm has a market cap of C$686.02 million, a price-to-earnings ratio of 35.48, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The business has a 50-day moving average of C$10.09 and a 200-day moving average of C$10.12.

Magellan Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Wednesday, March 19th. Magellan Aerospace’s dividend payout ratio (DPR) is 28.61%.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.