Magellan Aerospace (TSE:MAL) Rating Increased to Moderate Buy at ATB Cormark Capital Markets

Key Points

• Analyst sentiment upgraded: ATB Cormark raised Magellan Aerospace to a "moderate buy" and TD Securities increased its target to C$25, leaving the stock with a consensus "Buy" and a consensus target of C$25.
• Valuation and recent results: Shares opened at C$24.08 (market cap C$1.37B) with a PE of 34.9; the company reported quarterly EPS of C$0.18 on revenues of C$278.33M, a net margin of 3.78%, and analysts expect ~C$0.97 EPS for the fiscal year.

Magellan Aerospace (TSE:MAL - Get Free Report) was upgraded by research analysts at ATB Cormark Capital Markets to a "moderate buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, TD Securities upped their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$25.00.

Magellan Aerospace Price Performance

Shares of MAL stock opened at C$24.08 on Monday. The company has a market capitalization of C$1.37 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. The firm has a fifty day simple moving average of C$22.07 and a 200-day simple moving average of C$19.45. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 10.77. Magellan Aerospace has a twelve month low of C$11.41 and a twelve month high of C$26.00.

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

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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