Magellan Aerospace (TSE:MAL) Hits New 1-Year High - Here's What Happened

Key Points

• Magellan Aerospace hit a new 52-week high intraday of C$27.07 (last C$26.67) and was trading up about 3.6% on increased volume.
• Analyst sentiment is positive—ATB Cormark upgraded to "moderate buy", TD Securities raised its target to C$25, and the consensus rating is Buy with an average target of C$25.
• Fundamentals: the company reported C$0.18 EPS on C$278.33M revenue for the quarter, has a market cap of C$1.54B and a PE of ~39, and pays a quarterly dividend of C$0.05 (annualized C$0.20, ~0.7% yield).

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$27.07 and last traded at C$26.67, with a volume of 25199 shares traded. The stock had previously closed at C$25.97.

Analyst Ratings Changes

Several research analysts recently weighed in on MAL shares. ATB Cormark Capital Markets raised Magellan Aerospace to a "moderate buy" rating in a research report on Monday, April 6th. TD Securities upped their target price on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$25.00.

Magellan Aerospace Trading Up 3.6%

The firm has a market capitalization of C$1.54 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. The company has a debt-to-equity ratio of 10.77, a current ratio of 2.75 and a quick ratio of 1.55. The company has a fifty day moving average of C$22.44 and a 200-day moving average of C$19.70.

Magellan Aerospace (TSE:MAL - Get Free Report) last issued its earnings results on Friday, March 27th. The company reported C$0.18 EPS for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The firm had revenue of C$278.33 million for the quarter. On average, sell-side analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Magellan Aerospace's payout ratio is 25.36%.

About Magellan Aerospace

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.

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