Magellan Aerospace (TSE:MAL) Upgraded at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Magellan Aerospace (TSE:MAL) to a moderate buy rating in a research note published on Monday,Zacks.com reports.

Separately, TD Securities raised their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace currently has an average rating of “Buy” and an average target price of C$25.00.

Magellan Aerospace Stock Performance

Shares of MAL stock opened at C$25.98 on Monday. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of 37.65, a PEG ratio of -21.36 and a beta of 0.76. The company’s 50 day moving average is C$22.15 and its 200 day moving average is C$19.49. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 10.77. Magellan Aerospace has a 52-week low of C$11.43 and a 52-week high of C$26.00.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Friday, March 27th. The company reported C$0.18 earnings per share (EPS) for the quarter. The company had revenue of C$278.33 million for the quarter. Magellan Aerospace had a net margin of 3.78% and a return on equity of 4.83%. On average, sell-side analysts anticipate that Magellan Aerospace will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio (DPR) is 25.36%.

About Magellan Aerospace

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.