Magellan Aerospace (TSE:MAL) Shares Cross Above 200 Day Moving Average of $7.79

Magellan Aerospace Co. (TSE:MAL)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.79 and traded as high as C$8.10. Magellan Aerospace shares last traded at C$8.00, with a volume of 8,665 shares trading hands.

Analyst Ratings Changes

Separately, TD Securities raised their price target on Magellan Aerospace from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th.

Magellan Aerospace Stock Performance

The company has a debt-to-equity ratio of 9.96, a current ratio of 2.82 and a quick ratio of 1.55. The company has a market capitalization of C$457.44 million, a price-to-earnings ratio of 50.00, a PEG ratio of -21.36 and a beta of 1.11. The stock has a 50 day simple moving average of C$8.08 and a two-hundred day simple moving average of C$7.79.

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

Magellan Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 14th. Magellan Aerospace’s dividend payout ratio (DPR) is currently 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.