Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200 Day Moving Average of $7.77

Magellan Aerospace Co. (TSE:MAL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.77 and traded as high as C$8.07. Magellan Aerospace shares last traded at C$8.07, with a volume of 3,800 shares traded.

Analysts Set New Price Targets

Separately, TD Securities boosted their price objective on shares of 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.

Magellan Aerospace Stock Up 1.1 %

The firm has a market capitalization of C$461.44 million, a PE ratio of 50.44, a P/E/G ratio of -21.36 and a beta of 1.11. The firm’s 50 day moving average price is C$8.07 and its two-hundred day moving average price is C$7.77. The company has a quick ratio of 1.55, a current ratio of 2.82 and a debt-to-equity ratio of 9.96.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Monday, March 11th. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The firm had revenue of C$223.58 million during the quarter, compared to analysts’ expectations of C$213.90 million. Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. As a group, research analysts forecast that Magellan Aerospace Co. will post 0.7047279 EPS for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.025 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.10 annualized dividend and a dividend yield of 1.24%. Magellan Aerospace’s dividend payout ratio (DPR) is presently 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.