Magellan Aerospace (TSE:MAL) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Magellan Aerospace shares crossed above their 200-day moving average
• Analyst sentiment has turned positive: ATB Cormark upgraded to "moderate buy," TD Securities raised its target to C$25, and the consensus rating is Buy with an average target of C$25.00.
• Fundamentals: the company reported quarterly EPS of C$0.18 on C$278.33M revenue, has a market cap of C$1.37B and a P/E of 34.8, and pays a quarterly dividend of C$0.05 (annualized yield ~0.8%).

Magellan Aerospace Co. (TSE:MAL - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$20.06 and traded as high as C$24.51. Magellan Aerospace shares last traded at C$24.01, with a volume of 64,518 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MAL shares. ATB Cormark Capital Markets upgraded Magellan Aerospace to a "moderate buy" rating in a research report on Monday, April 6th. TD Securities increased their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$25.00.

Magellan Aerospace Price Performance

The stock has a market capitalization of C$1.37 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75. The stock has a 50-day simple moving average of C$23.06 and a 200 day simple moving average of C$20.06.

Magellan Aerospace (TSE:MAL - Get Free Report) last announced its quarterly earnings data on Friday, March 27th. The company reported C$0.18 EPS for the quarter. The firm had revenue of C$278.33 million for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%. On average, equities analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace's dividend payout ratio (DPR) is presently 25.36%.

About Magellan Aerospace

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. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.

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