Magellan Aerospace (TSE:MAL) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$25.63 and traded as high as C$32.72. Magellan Aerospace shares last traded at C$32.32, with a volume of 36,236 shares.

Analysts Set New Price Targets

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

Magellan Aerospace Stock Performance

The company’s fifty day moving average is C$31.35 and its 200 day moving average is C$25.63. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The company has a market cap of C$1.84 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of -21.36 and a beta of 1.04.

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

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 16th. Magellan Aerospace’s dividend payout ratio is currently 25.32%.

Magellan Aerospace Company Profile

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.