Shares of Magellan Aerospace Co. (TSE:MAL – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$7.96 and traded as high as C$8.05. Magellan Aerospace shares last traded at C$8.00, with a volume of 6,316 shares.
Analyst Ratings Changes
Separately, TD Securities upped their price objective on Magellan Aerospace from C$14.00 to C$16.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th.
Get Our Latest Report on Magellan Aerospace
Magellan Aerospace Price Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C$0.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.01. Magellan Aerospace had a return on equity of 1.57% and a net margin of 1.31%. The firm had revenue of C$235.24 million for the quarter, compared to analyst estimates of C$243.30 million. On average, equities research analysts anticipate that Magellan Aerospace Co. will post 0.6602187 earnings per share for the current year.
Magellan Aerospace Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Friday, June 14th. Magellan Aerospace’s dividend payout ratio (DPR) is 50.00%.
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.
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