Magellan Aerospace (TSE:MAL) Sets New 12-Month High - Here's What Happened

Key Points

• Magellan Aerospace shares hit a new 52-week high, reaching C$38.17 before closing at C$37.80, up sharply from the previous close of C$34.66.
• Analysts remain positive: ATB Cormark raised its price target to C$46 with an “outperform” rating, while TD increased its target to C$37 and maintained a “buy” rating. The consensus rating is “Buy,” with a C$36 target price.
• The company reported quarterly EPS of C$0.29 on C$285.1 million in revenue and declared a C$0.05 quarterly dividend, equivalent to a 0.5% annual yield.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$38.17 and last traded at C$37.80, with a volume of 103604 shares changing hands. The stock had previously closed at C$34.66.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAL. ATB Cormark Capital Markets boosted their target price on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. TD raised their price target on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace presently has a consensus rating of "Buy" and a consensus target price of C$36.00.

Magellan Aerospace Stock Performance

The company has a market cap of C$2.15 billion, a PE ratio of 47.70, a P/E/G ratio of -21.36 and a beta of 1.06. The stock's 50 day simple moving average is C$33.11 and its two-hundred day simple moving average is C$26.87. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46.

Magellan Aerospace (TSE:MAL - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported C$0.29 EPS for the quarter. The business had revenue of C$285.10 million during the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%. As a group, research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 0.5%. Magellan Aerospace's dividend payout ratio is currently 25.32%.

Magellan Aerospace Company Profile

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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