Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average of $7.85

Magellan Aerospace Co. (TSE:MALGet Free Report)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.85 and traded as high as C$7.92. Magellan Aerospace shares last traded at C$7.92, with a volume of 2,630 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities boosted their price objective on shares of Magellan Aerospace from C$14.00 to C$16.00 and gave the company a “buy” rating in a report on Tuesday, May 7th.

View Our Latest Analysis on Magellan Aerospace

Magellan Aerospace Trading Up 0.5 %

The company has a debt-to-equity ratio of 8.63, a quick ratio of 1.55 and a current ratio of 2.78. The company has a market cap of C$452.71 million, a price-to-earnings ratio of 39.60, a P/E/G ratio of -21.36 and a beta of 1.11. The company’s fifty day moving average is C$8.05 and its two-hundred day moving average is C$7.85.

Magellan Aerospace (TSE:MALGet Free Report) last issued its earnings results on Monday, March 11th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.07). Magellan Aerospace had a return on equity of 1.57% and a net margin of 1.31%. The business had revenue of C$223.58 million for the quarter, compared to analysts’ expectations of C$213.90 million. On average, research analysts anticipate that Magellan Aerospace Co. will post 0.6755137 EPS for the current year.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.26%. Magellan Aerospace’s payout ratio is 50.00%.

About Magellan Aerospace

(Get Free Report)

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.

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