Magellan Aerospace (TSE:MAL) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$31.43 and traded as high as C$32.19. Magellan Aerospace shares last traded at C$32.10, with a volume of 69,972 shares.

Wall Street Analysts Forecast Growth

Separately, TD raised their price objective on 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$38.67.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52. The company has a market cap of C$1.87 billion, a price-to-earnings ratio of 31.14, a PEG ratio of -21.36 and a beta of 1.03. The business has a fifty day moving average price of C$33.95 and a 200 day moving average price of C$31.44.

Magellan Aerospace (TSE:MAL) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. The business had revenue of C$305.58 million for the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. As a group, research analysts anticipate that Magellan Aerospace Co. will post 0.97 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Magellan Aerospace’s dividend payout ratio (DPR) is presently 19.05%.

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.