Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Magellan Aerospace Co. (TSE:MAL) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.04 and traded as high as C$33.62. Magellan Aerospace shares last traded at C$33.47, with a volume of 94,196 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. ATB Cormark Capital Markets upped their price objective on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. TD lifted their target price on shares of Magellan Aerospace from C$37.00 to C$45.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$38.67.

Magellan Aerospace Trading Down 4.3%

The stock has a market cap of C$1.79 billion, a PE ratio of 29.79, a P/E/G ratio of -21.36 and a beta of 1.06. The firm has a 50-day simple moving average of C$35.08 and a 200-day simple moving average of C$29.13. The company has a quick ratio of 1.55, a current ratio of 2.52 and a debt-to-equity ratio of 11.18.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%.The company had revenue of C$305.58 million during the quarter. Equities analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Magellan Aerospace’s payout ratio is presently 19.05%.

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.