Magellan Aerospace (TSE:MAL) Sets New 52-Week High – Here’s What Happened

Shares of Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high on Tuesday . The company traded as high as C$27.07 and last traded at C$26.67, with a volume of 25199 shares trading hands. The stock had previously closed at C$25.97.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. ATB Cormark Capital Markets upgraded shares of Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. TD Securities lifted their price objective 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. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Magellan Aerospace currently has an average rating of “Buy” and an average target price of C$25.00.

Magellan Aerospace Stock Performance

The firm has a fifty day moving average price of C$22.70 and a 200 day moving average price of C$19.82. The stock has a market cap of C$1.47 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75.

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

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Magellan Aerospace’s payout ratio is currently 25.36%.

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.