Magellan Aerospace Co. (TSE:MAL – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.96 and traded as high as C$8.05. Magellan Aerospace shares last traded at C$8.00, with a volume of 6,316 shares trading hands.
Analysts Set New Price Targets
Separately, TD Securities increased their price objective on Magellan Aerospace from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.
Get Our Latest Stock Analysis on Magellan Aerospace
Magellan Aerospace Trading Down 0.1 %
Magellan Aerospace (TSE:MAL – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported C$0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.01. Magellan Aerospace had a return on equity of 1.57% and a net margin of 1.31%. The business had revenue of C$235.24 million during the quarter, compared to the consensus estimate of C$243.30 million. On average, research analysts predict that Magellan Aerospace Co. will post 0.6602187 EPS for the current fiscal year.
Magellan Aerospace Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, June 14th. Magellan Aerospace’s dividend payout ratio (DPR) is presently 50.00%.
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.
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