Magellan Aerospace (TSE:MAL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.28 and traded as high as C$13.00. Magellan Aerospace shares last traded at C$12.93, with a volume of 13,626 shares changing hands.

Analysts Set New Price Targets

Separately, TD Securities upped their price target on Magellan Aerospace from C$18.00 to C$19.00 and gave the company a “buy” rating in a research report on Monday, March 17th.

Magellan Aerospace Trading Up 0.6 %

The business’s fifty day simple moving average is C$10.44 and its 200 day simple moving average is C$10.28. The stock has a market cap of C$715.35 million, a P/E ratio of 37.00, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, March 19th. Magellan Aerospace’s dividend payout ratio is 28.61%.

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.