Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200-Day Moving Average of $7.71

Magellan Aerospace Co. (TSE:MAL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.71 and traded as high as C$8.14. Magellan Aerospace shares last traded at C$8.05, with a volume of 7,741 shares trading hands.

Analyst Upgrades and Downgrades

Separately, TD Securities increased their price objective on shares of Magellan Aerospace from C$13.00 to C$13.50 and gave the company a “buy” rating in a report on Monday, November 13th.

Magellan Aerospace Price Performance

The firm has a market cap of C$461.10 million, a P/E ratio of -42.37, a P/E/G ratio of -21.36 and a beta of 1.11. The firm’s fifty day simple moving average is C$7.48 and its 200 day simple moving average is C$7.71. The company has a debt-to-equity ratio of 10.29, a quick ratio of 1.55 and a current ratio of 2.82.

Magellan Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 29th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 14th. Magellan Aerospace’s payout ratio is presently -52.63%.

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. It offers aero engine products, such as laser welded honeycomb and filament wound tubes, engine frames, 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.