Magellan Aerospace (TSE:MAL) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.48 and traded as high as C$9.39. Magellan Aerospace shares last traded at C$9.30, with a volume of 16,540 shares traded.

Analyst Upgrades and Downgrades

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

Magellan Aerospace Stock Performance

The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92. The business’s fifty day moving average is C$9.18 and its 200 day moving average is C$8.49. The firm has a market capitalization of C$539.97 million, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of -21.36 and a beta of 1.12.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.13 EPS for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The business had revenue of C$242.91 million for the quarter. Equities analysts predict that Magellan Aerospace Co. will post 0.9700413 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of ∞. The ex-dividend date was Monday, September 16th. Magellan Aerospace’s dividend payout ratio (DPR) is currently 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.