Magellan Aerospace Co. (TSE:MAL – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$9.55 and last traded at C$9.42, with a volume of 8852 shares. The stock had previously closed at C$9.45.
Analysts Set New Price Targets
Separately, TD Securities raised 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.
View Our Latest Stock Analysis on Magellan Aerospace
Magellan Aerospace Price Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The company had revenue of C$242.91 million during the quarter. Research analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.
Magellan Aerospace Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.025 per share. The ex-dividend date was Monday, September 16th. This represents a $0.10 annualized dividend and a yield of 1.06%. Magellan Aerospace’s dividend payout ratio is currently 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.
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