Magellan Aerospace (TSE:MAL) Sets New 52-Week High on Analyst Upgrade

Magellan Aerospace Co. (TSE:MAL - Get Free Report) reached a new 52-week high on Friday after TD Securities raised their price target on the stock from C$19.00 to C$20.00. TD Securities currently has a buy rating on the stock. Magellan Aerospace traded as high as C$16.50 and last traded at C$16.46, with a volume of 9394 shares. The stock had previously closed at C$16.30.

Magellan Aerospace Stock Up 2.7%

The stock has a market capitalization of C$951.58 million, a P/E ratio of 49.21, a P/E/G ratio of -21.36 and a beta of 1.11. 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 firm has a 50-day simple moving average of C$13.64 and a 200 day simple moving average of C$11.39.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date 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.