Magellan Aerospace (TSE:MAL) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Magellan Aerospace Co. (TSE:MAL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.70 and traded as high as C$10.45. Magellan Aerospace shares last traded at C$10.26, with a volume of 5,113 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities raised their price target on Magellan Aerospace from C$16.00 to C$17.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Magellan Aerospace Price Performance

The company has a market cap of C$586.26 million, a P/E ratio of 34.20, a PEG ratio of -21.36 and a beta of 1.11. The firm’s 50-day moving average is C$9.52 and its two-hundred day moving average is C$8.70. The company has a debt-to-equity ratio of 12.92, a current ratio of 2.44 and a quick ratio of 1.55.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share (EPS) for the quarter. The firm had revenue of C$242.91 million for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. Analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, September 16th. Magellan Aerospace’s dividend payout ratio (DPR) is 33.33%.

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.