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

Magellan Aerospace Co. (TSE:MAL)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$9.47 and traded as high as C$9.76. Magellan Aerospace shares last traded at C$9.26, with a volume of 22,967 shares.

Analysts Set New Price Targets

Separately, TD Securities boosted 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 Stock Down 2.9 %

The stock has a market capitalization of C$529.12 million, a price-to-earnings ratio of 30.87, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The firm’s fifty day simple moving average is C$10.51 and its 200 day simple moving average is C$9.47.

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio is presently 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.