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

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.57 and last traded at C$17.50, with a volume of 51919 shares. The stock had previously closed at C$16.87.

Wall Street Analyst Weigh In

Separately, TD Securities raised their target price on Magellan Aerospace from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd.

Magellan Aerospace Price Performance

The stock has a market cap of C$933.88 million, a P/E ratio of 48.30, a PEG ratio of -21.36 and a beta of 1.11. The company has a 50 day simple moving average of C$14.17 and a 200 day simple moving average of C$11.65. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 19th. Magellan Aerospace's payout ratio is 28.61%.

Magellan Aerospace Company Profile

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.