Magellan Aerospace (TSE:MAL) Share Price Passes Above 200-Day Moving Average of $8.36

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$8.36 and traded as high as C$9.10. Magellan Aerospace shares last traded at C$9.10, with a volume of 1,500 shares.

Analyst Upgrades and Downgrades

Separately, TD Securities increased 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 Up 4.3 %

The firm’s 50-day moving average price is C$8.87 and its two-hundred day moving average price is C$8.36. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The firm has a market cap of C$539.40 million, a PE ratio of 31.47, a P/E/G ratio of -21.36 and a beta of 1.12.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share for the quarter. The firm had revenue of C$242.91 million during the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. As a group, equities research analysts expect that Magellan Aerospace Co. will post 0.9699893 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.10 dividend on an annualized basis and a yield of 1.06%. Magellan Aerospace’s dividend payout ratio is presently 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.