Magellan Aerospace (TSE:MAL) Price Target Raised to C$16.00

Magellan Aerospace (TSE:MAL) had its price objective upped by TD Securities from C$14.00 to C$16.00 in a report issued on Tuesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Magellan Aerospace Trading Down 0.1 %

Shares of TSE MAL opened at C$7.95 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.78 and a debt-to-equity ratio of 8.63. The stock’s 50 day moving average price is C$8.06 and its two-hundred day moving average price is C$7.83. Magellan Aerospace has a 52-week low of C$7.02 and a 52-week high of C$8.67. The stock has a market capitalization of C$454.42 million, a P/E ratio of 39.75, a PEG ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL) last posted its quarterly earnings results on Monday, March 11th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The firm had revenue of C$223.58 million for the quarter, compared to analyst estimates of C$213.90 million. Magellan Aerospace had a net margin of 1.31% and a return on equity of 1.57%. On average, analysts anticipate that Magellan Aerospace will post 0.6755137 earnings per share for the current fiscal year.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 14th. Magellan Aerospace’s dividend payout ratio (DPR) is presently 50.00%.

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.