Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.48 and traded as high as C$15.61. Magellan Aerospace shares last traded at C$15.13, with a volume of 35,784 shares changing hands.
Wall Street Analyst Weigh In
Separately, TD Securities increased their target price on Magellan Aerospace from C$19.00 to C$20.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$20.00.
Check Out Our Latest Stock Analysis on Magellan Aerospace
Magellan Aerospace Price Performance
The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The stock has a market capitalization of C$861.96 million, a price-to-earnings ratio of 44.58, a P/E/G ratio of -21.36 and a beta of 1.11. The company's 50-day simple moving average is C$17.52 and its 200 day simple moving average is C$14.68.
Magellan Aerospace Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.3%. Magellan Aerospace's dividend payout ratio (DPR) is currently 28.61%.
About Magellan Aerospace
(
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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.
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