Magellan Aerospace (TSE:MAL) Shares Cross Above 200-Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$10.28 and traded as high as C$13.00. Magellan Aerospace shares last traded at C$12.93, with a volume of 13,626 shares trading hands.

Analysts Set New Price Targets

Separately, TD Securities increased their price target on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a report on Monday, March 17th.

Magellan Aerospace Trading Down 3.7 %

The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The company’s 50-day moving average price is C$10.54 and its 200-day moving average price is C$10.31. The firm has a market cap of C$685.47 million, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.81%. The ex-dividend date was Wednesday, March 19th. Magellan Aerospace’s payout ratio is currently 28.61%.

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.