Magellan Aerospace (TSE:MAL) Releases Quarterly Earnings Results

Magellan Aerospace (TSE:MAL) posted its quarterly earnings results on Tuesday. The company reported C$0.35 EPS for the quarter, FiscalAI reports. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. The business had revenue of C$300.62 million during the quarter.

Magellan Aerospace Stock Down 6.0%

Shares of MAL stock traded down C$2.32 on Thursday, reaching C$36.35. 56,850 shares of the stock were exchanged, compared to its average volume of 56,199. The company has a current ratio of 2.52, a quick ratio of 1.55 and a debt-to-equity ratio of 11.18. The business’s 50 day moving average price is C$33.19 and its 200 day moving average price is C$29.62. The company has a market capitalization of C$2.07 billion, a price-to-earnings ratio of 34.62, a PEG ratio of -21.36 and a beta of 0.96. Magellan Aerospace has a twelve month low of C$15.98 and a twelve month high of C$45.70.

Magellan Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, TD lifted their target price on Magellan Aerospace from C$45.00 to C$46.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$39.00.

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.