Magellan Aerospace (TSE:MAL) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.94 and traded as high as C$10.15. Magellan Aerospace shares last traded at C$10.08, with a volume of 2,881 shares traded.

Analyst Ratings Changes

Separately, TD Securities raised their target price on Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Magellan Aerospace Stock Performance

The stock has a market cap of C$558.22 million, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company’s 50-day simple moving average is C$9.90 and its 200-day simple moving average is C$9.94. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Tuesday, December 17th. Magellan Aerospace’s payout ratio is 28.61%.

Magellan Aerospace Company Profile

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.