Magellan Aerospace (TSE:MAL) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.68 and traded as high as C$10.06. Magellan Aerospace shares last traded at C$9.89, with a volume of 13,681 shares trading hands.

Analysts Set New Price Targets

Separately, TD Securities raised their price objective on shares of 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 0.4 %

The firm has a 50-day moving average of C$10.36 and a two-hundred day moving average of C$9.70. The stock has a market capitalization of C$562.83 million, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92.

Magellan Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio (DPR) is 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.