Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average of $7.77

Magellan Aerospace Co. (TSE:MAL) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$7.77 and traded as high as C$8.07. Magellan Aerospace shares last traded at C$8.07, with a volume of 3,800 shares traded.

Analyst Ratings Changes

Separately, TD Securities increased their price target on shares of Magellan Aerospace from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th.

Magellan Aerospace Stock Performance

The stock has a market cap of C$461.44 million, a P/E ratio of 50.44, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The firm’s 50-day moving average is C$8.07 and its two-hundred day moving average is C$7.77. The company has a quick ratio of 1.55, a current ratio of 2.82 and a debt-to-equity ratio of 9.96.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Monday, March 11th. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The business had revenue of C$223.58 million for the quarter, compared to the consensus estimate of C$213.90 million. Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. As a group, research analysts expect that Magellan Aerospace Co. will post 0.7047279 EPS for the current year.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, March 14th. Magellan Aerospace’s payout ratio is presently 62.50%.

About Magellan Aerospace

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.