Magellan Aerospace (TSE:MAL) Posts Earnings Results

Magellan Aerospace (TSE:MAL) posted its earnings results on Tuesday. The company reported C$0.35 EPS for the quarter, FiscalAI reports. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. The company had revenue of C$300.62 million for the quarter.

Magellan Aerospace Price Performance

Shares of TSE MAL traded down C$2.37 during mid-day trading on Thursday, hitting C$36.30. 57,050 shares of the company’s stock traded hands, compared to its average volume of 56,198. The company’s 50-day moving average is C$33.19 and its two-hundred day moving average is C$29.62. The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55. The company has a market capitalization of C$2.07 billion, a P/E ratio of 34.57, a PEG ratio of -21.36 and a beta of 0.96. Magellan Aerospace has a 1 year low of C$15.98 and a 1 year high of C$45.70.

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 15th. Magellan Aerospace’s dividend payout ratio is currently 19.05%.

Wall Street Analyst Weigh In

Separately, TD lifted their price objective on Magellan Aerospace from C$45.00 to C$46.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$39.00.

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.