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Magellan Aerospace (TSE:MAL) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Magellan Aerospace logo with Industrials background

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.98 and traded as high as C$19.04. Magellan Aerospace shares last traded at C$18.68, with a volume of 13,953 shares traded.

Analysts Set New Price Targets

Separately, TD Securities boosted their target price on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd.

Check Out Our Latest Stock Report on Magellan Aerospace

Magellan Aerospace Stock Performance

The firm has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 52.36, a P/E/G ratio of -21.36 and a beta of 1.11. The stock's fifty day moving average is C$17.05 and its two-hundred day moving average is C$12.98. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.05 dividend. This is an increase from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, June 16th. Magellan Aerospace's payout ratio is currently 28.61%.

Magellan Aerospace Company Profile

(Get Free Report)

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services.

Further Reading

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