Shares of Magellan Aerospace Co. (TSE:MAL – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.75 and traded as high as C$8.07. Magellan Aerospace shares last traded at C$7.90, with a volume of 9,283 shares traded.
Analysts Set New Price Targets
Separately, TD Securities upped their target price on Magellan Aerospace from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th.
Read Our Latest Stock Report on Magellan Aerospace
Magellan Aerospace Price Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last issued its quarterly earnings results on Monday, March 11th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The company had revenue of C$223.58 million during the quarter, compared to analyst estimates of C$213.90 million. Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. Equities analysts anticipate that Magellan Aerospace Co. will post 0.7045855 earnings per share for the current year.
Magellan Aerospace Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, March 14th. Magellan Aerospace’s payout ratio is currently 62.50%.
About Magellan Aerospace
Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.
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