Magellan Aerospace (TSE:MAL) Hits New 1-Year High – What’s Next?

Magellan Aerospace Co. (TSE:MAL)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$27.90 and last traded at C$27.85, with a volume of 34004 shares. The stock had previously closed at C$26.67.

Wall Street Analysts Forecast Growth

MAL has been the topic of a number of research reports. TD increased their target price on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. TD Securities increased their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, ATB Cormark Capital Markets upgraded shares of Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$27.50.

Magellan Aerospace Stock Performance

The stock’s fifty day simple moving average is C$24.44 and its 200-day simple moving average is C$21.37. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The company has a market capitalization of C$1.69 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings data on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The company had revenue of C$285.10 million for the quarter. Analysts predict that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Magellan Aerospace’s dividend payout ratio is currently 25.32%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.