Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.53 and traded as high as C$32.85. Magellan Aerospace shares last traded at C$32.55, with a volume of 37,182 shares.

Analyst Upgrades and Downgrades

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

Magellan Aerospace Stock Up 0.8%

The company has a quick ratio of 1.55, a current ratio of 2.52 and a debt-to-equity ratio of 11.18. The stock has a market capitalization of C$1.83 billion, a P/E ratio of 30.51, a PEG ratio of -21.36 and a beta of 0.89. The company has a fifty day moving average price of C$35.04 and a 200-day moving average price of C$29.68.

Magellan Aerospace (TSE:MAL) last released 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 business had revenue of C$305.58 million during the quarter. As a group, research analysts forecast that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

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