Magellan Aerospace (TSE:MAL) Reaches New 12-Month High - Time to Buy?

Magellan Aerospace Co. (TSE:MAL - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company 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.

Analyst Upgrades and Downgrades

Separately, TD Securities increased their price objective on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd.

Magellan Aerospace Trading Up 1.5%

The company's 50 day moving average price is C$14.33 and its two-hundred day moving average price is C$11.74. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The stock has a market capitalization of C$947.71 million, a PE ratio of 49.01, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.025 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. Magellan Aerospace's dividend payout ratio is currently 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.