Magellan Aerospace (TSE:MAL) Sets New 12-Month High – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$38.17 and last traded at C$37.80, with a volume of 103604 shares. The stock had previously closed at C$34.66.

Analyst Ratings Changes

A number of brokerages have weighed in on MAL. ATB Cormark Capital Markets lifted their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. TD raised their target price on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$36.00.

Magellan Aerospace Stock Up 8.7%

The firm’s 50 day moving average price is C$33.11 and its two-hundred day moving average price is C$26.87. The firm has a market capitalization of C$2.15 billion, a PE ratio of 47.70, a P/E/G ratio of -21.36 and a beta of 1.06. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46.

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

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace’s payout ratio is presently 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.