Magellan Aerospace (TSE:MAL) Given New C$25.00 Price Target at TD Securities

Magellan Aerospace (TSE:MAL) had its price objective lifted by TD Securities from C$24.00 to C$25.00 in a research note released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Magellan Aerospace Stock Performance

Shares of Magellan Aerospace stock opened at C$21.04 on Tuesday. The business has a 50-day moving average price of C$22.03 and a two-hundred day moving average price of C$19.22. Magellan Aerospace has a 1-year low of C$11.29 and a 1-year high of C$26.00. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 10.77. The company has a market cap of C$1.20 billion, a P/E ratio of 26.63, a PEG ratio of -21.36 and a beta of 0.64.

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

Magellan Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio is presently 18.99%.

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.