TD Issues Positive Forecast for Magellan Aerospace (TSE:MAL) Stock Price

Magellan Aerospace (TSE:MAL) had its price target lifted by equities research analysts at TD from C$27.00 to C$30.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price objective indicates a potential upside of 20.29% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. TD Securities upped their target price on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. ATB Cormark Capital Markets raised Magellan Aerospace to a “moderate buy” rating in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Magellan Aerospace currently has a consensus rating of “Buy” and an average target price of C$27.50.

Magellan Aerospace Stock Down 1.5%

Shares of MAL stock traded down C$0.39 during trading hours on Tuesday, reaching C$24.94. 57,071 shares of the company’s stock were exchanged, compared to its average volume of 41,410. The stock’s 50 day moving average is C$24.07 and its 200-day moving average is C$20.81. The company has a market cap of C$1.42 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of -21.36 and a beta of 0.76. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 10.77. Magellan Aerospace has a fifty-two week low of C$14.85 and a fifty-two week high of C$27.84.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. The business had revenue of C$285.10 million for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%. Analysts predict that Magellan Aerospace will post 0.9692308 earnings per share for the current fiscal year.

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.