Magellan Aerospace (TSE:MAL) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$10.81 and traded as high as C$14.32. Magellan Aerospace shares last traded at C$14.05, with a volume of 80,158 shares changing hands.

Analyst Upgrades and Downgrades

Separately, TD Securities boosted their price target on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Monday, March 17th.

Magellan Aerospace Price Performance

The firm has a fifty day moving average price of C$11.94 and a two-hundred day moving average price of C$10.81. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The stock has a market capitalization of C$777.31 million, a P/E ratio of 40.20, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a yield of 0.71%. Magellan Aerospace’s dividend payout ratio is currently 28.61%.

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.