Magellan Aerospace (TSE:MAL) Reaches New 1-Year High - Time to Buy?

Key Points

• Magellan Aerospace hit a new 52-week high of C$27.58 and last traded at C$27.40, with a market cap of C$1.54 billion, a P/E of 39.04, and 50-/200-day simple moving averages of C$23.85 and C$20.59 respectively.
• Analysts have an average rating of Buy with a consensus target of C$25.00; TD Securities recently raised its target to C$25 and ATB Cormark upgraded to “moderate buy,” though the consensus target remains below the current share price.
• Most recent quarter showed EPS of C$0.18 on revenue of C$278.33 million (ROE 4.83%, net margin 3.78%), and the company pays a quarterly dividend of $0.05 (annualized yield 0.7%, DPR 25.36%).

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$27.58 and last traded at C$27.40, with a volume of 14301 shares changing hands. The stock had previously closed at C$26.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Securities raised their price target 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. ATB Cormark Capital Markets raised Magellan Aerospace to a "moderate buy" rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Magellan Aerospace presently has an average rating of "Buy" and a consensus target price of C$25.00.

Magellan Aerospace Stock Up 1.0%

The firm has a fifty day simple moving average of C$23.85 and a 200-day simple moving average of C$20.59. The firm has a market cap of C$1.54 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of -21.36 and a beta of 0.76. The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75.

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

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Magellan Aerospace's dividend payout ratio (DPR) is currently 25.36%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange TSX: MAL, with operating units throughout North America, Europe and India.

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