Magellan Aerospace (TSE:MAL) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Magellan Aerospace shares crossed above their 200-day moving average, with the stock trading as high as C$35.87 and last changing hands at C$34.95. This technical move may signal improving momentum for the stock.
• Analysts remain bullish, with TD and ATB Cormark both raising price targets and assigning buy/outperform ratings. The current consensus target price is C$36.00, with three analysts rating the stock a Buy.
• The company recently reported quarterly EPS of C$0.29 on revenue of C$285.1 million and also paid a quarterly dividend of C$0.05 per share. That dividend implies an annualized yield of about 0.6%.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.10 and traded as high as C$35.87. Magellan Aerospace shares last traded at C$34.95, with a volume of 39,253 shares changing hands.

Analysts Set New Price Targets

MAL has been the topic of several analyst reports. TD upped their price objective on Magellan Aerospace from C$30.00 to C$37.00 and gave the company a "buy" rating in a research note on Monday, June 8th. ATB Cormark Capital Markets raised their target price on Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Finally, TD Securities boosted their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$36.00.

Magellan Aerospace Price Performance

The stock has a market capitalization of C$1.99 billion, a P/E ratio of 44.24, a PEG ratio of -21.36 and a beta of 1.04. The company's 50 day simple moving average is C$30.58 and its two-hundred day simple moving average is C$25.10. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55.

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

Magellan Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace's dividend payout ratio (DPR) is currently 25.32%.

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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