Magellan Aerospace (TSE:MAL) Hits New 1-Year High – Time to Buy?

Magellan Aerospace Co. (TSE:MAL)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$31.60 and last traded at C$30.20, with a volume of 68420 shares traded. The stock had previously closed at C$29.95.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MAL shares. TD upped their target price on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. ATB Cormark Capital Markets upgraded shares of Magellan Aerospace to a “moderate buy” rating in a research report on Monday, April 6th. Finally, TD Securities upped their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace presently has a consensus rating of “Buy” and an average price target of C$27.50.

Magellan Aerospace Stock Up 0.8%

The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55. The company’s 50-day simple moving average is C$24.70 and its 200 day simple moving average is C$21.58. The firm has a market cap of C$1.72 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL) last released its quarterly earnings data on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The business had revenue of C$285.10 million during the quarter. Research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.7%. Magellan Aerospace’s dividend payout ratio (DPR) is 25.32%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.