Magellan Aerospace (TSE:MAL) Shares Cross Above Two Hundred Day Moving Average of $8.44

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.44 and traded as high as C$9.38. Magellan Aerospace shares last traded at C$9.29, with a volume of 6,296 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their price objective on Magellan Aerospace from C$16.00 to C$17.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Magellan Aerospace Stock Down 1.1 %

The stock’s fifty day simple moving average is C$9.06 and its 200-day simple moving average is C$8.44. The stock has a market cap of C$530.83 million, a P/E ratio of 30.97, a P/E/G ratio of -21.36 and a beta of 1.12. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$242.91 million for the quarter. Magellan Aerospace had a return on equity of 2.30% and a net margin of 1.88%. As a group, research analysts forecast that Magellan Aerospace Co. will post 0.9700413 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 30th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, September 16th. This represents a $0.10 annualized dividend and a yield of 1.08%. Magellan Aerospace’s dividend payout ratio is 33.33%.

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.