Magellan Aerospace (TSE:MAL) Stock Price Down 0.6% – Here’s Why

Shares of Magellan Aerospace Co. (TSE:MAL) fell 0.6% on Wednesday . The stock traded as low as C$10.74 and last traded at C$10.74. 4,397 shares changed hands during trading, a decline of 55% from the average session volume of 9,716 shares. The stock had previously closed at C$10.81.

Analyst Upgrades and Downgrades

Separately, TD Securities upped their price objective on shares of Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Magellan Aerospace Price Performance

The firm has a market cap of C$613.68 million, a price-to-earnings ratio of 35.80, a P/E/G ratio of -21.36 and a beta of 1.11. The stock’s fifty day moving average price is C$10.48 and its 200-day moving average price is C$9.35. The company has a current ratio of 2.44, a quick ratio of 1.55 and a debt-to-equity ratio of 12.92.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Tuesday, December 17th. Magellan Aerospace’s payout ratio is 33.33%.

Magellan Aerospace Company Profile

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.