Magellan Aerospace (TSE:MAL) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Magellan Aerospace Co. (TSE:MAL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.60 and traded as high as C$11.00. Magellan Aerospace shares last traded at C$10.49, with a volume of 11,718 shares trading hands.

Wall Street Analyst Weigh In

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

Magellan Aerospace Price Performance

The company has a 50 day simple moving average of C$10.40 and a 200 day simple moving average of C$9.60. The company has a market capitalization of C$599.40 million, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was 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.