Magellan Aerospace (TSE:MAL) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.00 and traded as high as C$10.73. Magellan Aerospace shares last traded at C$10.67, with a volume of 8,532 shares traded.

Analysts Set New Price Targets

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

Magellan Aerospace Price Performance

The company’s 50-day moving average price is C$9.97 and its 200-day moving average price is C$9.00. The company has a debt-to-equity ratio of 12.92, a current ratio of 2.44 and a quick ratio of 1.55. The company has a market cap of C$609.68 million, a P/E ratio of 35.57, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Tuesday, December 17th. 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.