Magellan Aerospace (TSE:MAL) Shares Pass Above 200 Day Moving Average of $8.25

Magellan Aerospace Co. (TSE:MAL) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.25 and traded as high as C$9.24. Magellan Aerospace shares last traded at C$9.18, with a volume of 10,445 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities increased their price objective on Magellan Aerospace from C$16.00 to C$17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The firm has a 50-day moving average price of C$8.60 and a 200 day moving average price of C$8.25. The stock has a market capitalization of C$524.55 million, a P/E ratio of 30.60, a price-to-earnings-growth ratio of -21.36 and a beta of 1.12.

Magellan Aerospace (TSE:MAL) last issued its earnings results on Tuesday, August 6th. The company reported C$0.13 EPS for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The company had revenue of C$242.91 million for the quarter. On average, analysts expect that Magellan Aerospace Co. will post 0.6098383 EPS for the current year.

Magellan Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.025 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.09%. Magellan Aerospace’s dividend payout ratio is currently 33.33%.

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.