Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Magellan Aerospace Co. (TSE:MAL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.79 and traded as high as C$10.61. Magellan Aerospace shares last traded at C$10.43, with a volume of 5,796 shares traded.

Analyst Upgrades and Downgrades

Separately, TD Securities boosted their price target on shares of Magellan Aerospace from C$16.00 to C$17.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Magellan Aerospace Price Performance

The firm has a market cap of C$595.97 million, a PE ratio of 34.77, 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. The stock has a 50 day moving average price of C$9.66 and a two-hundred day moving average price of C$8.79.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$242.91 million for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. As a group, equities analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.10 annualized dividend and a dividend yield of 0.96%. Magellan Aerospace’s dividend payout ratio (DPR) is presently 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.