Magellan Aerospace (TSE:MAL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$9.68 and traded as high as C$10.06. Magellan Aerospace shares last traded at C$9.89, with a volume of 13,681 shares traded.

Analyst Ratings Changes

Separately, TD Securities boosted their target price on Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Magellan Aerospace Trading Down 0.4 %

The firm has a market cap of C$562.83 million, a P/E ratio of 32.83, a PEG ratio of -21.36 and a beta of 1.11. The company has a 50 day moving average of C$10.36 and a 200 day moving average of C$9.70. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.025 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.10 annualized dividend and a dividend yield of 1.02%. Magellan Aerospace’s dividend payout ratio (DPR) is 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.