Magellan Aerospace (TSE:MAL) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Magellan Aerospace shares rose above their 200-day moving average, reaching C$36.49 and last trading at C$36.38, compared with the 200-day average of C$26.34.
• Analysts remain positive, with three Buy ratings and a consensus “Buy” recommendation. Price targets were raised as high as C$46.00, while the average target is C$36.00.
• The company reported quarterly EPS of C$0.29 on revenue of C$285.1 million and maintains a quarterly dividend of C$0.05, equivalent to a 0.5% annualized yield.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.34 and traded as high as C$36.49. Magellan Aerospace shares last traded at C$36.38, with a volume of 58,305 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on MAL shares. ATB Cormark Capital Markets boosted their price target 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 objective on shares of 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. Finally, TD Securities raised their price objective on shares of 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Magellan Aerospace presently has a consensus rating of "Buy" and an average target price of C$36.00.

Magellan Aerospace Price Performance

The stock has a market capitalization of C$2.08 billion, a P/E ratio of 46.05, a price-to-earnings-growth ratio of -21.36 and a beta of 1.04. The business has a fifty day simple moving average of C$32.44 and a 200 day simple moving average of C$26.34. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46.

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 for the quarter. The company had revenue of C$285.10 million for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%. On average, analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace's dividend payout ratio is presently 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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