Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.76 and traded as high as C$10.20. Magellan Aerospace shares last traded at C$10.05, with a volume of 4,145 shares traded.

Analyst Upgrades and Downgrades

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

Magellan Aerospace Stock Down 0.6 %

The company has a current ratio of 2.44, a quick ratio of 1.55 and a debt-to-equity ratio of 12.92. The stock has a 50-day simple moving average of C$10.30 and a 200-day simple moving average of C$9.77. The company has a market cap of C$574.26 million, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.10 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 2.30% and a net margin of 1.88%. As a group, analysts predict that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.10 dividend on an annualized basis and a yield of 1.00%. Magellan Aerospace’s dividend payout ratio (DPR) is presently 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.