Magellan Aerospace (TSE:MAL) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Magellan Aerospace shares rose above their 200-day moving average, reaching C$35.59 and last trading at C$34.75 versus a 200-day average of C$28.43.
• Analysts remain bullish: TD and ATB Cormark raised their price targets to C$45 and C$46, respectively, while the consensus rating is “Buy” with a C$38.67 target.
• The company reported quarterly EPS of C$0.35 on revenue of C$305.58 million and declared a C$0.05 quarterly dividend, equivalent to a 0.6% annualized yield.

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$28.43 and traded as high as C$35.59. Magellan Aerospace shares last traded at C$34.75, with a volume of 94,717 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD raised their price target on Magellan Aerospace from C$37.00 to C$45.00 and gave the company a "buy" rating in a research report on Friday, August 14th. ATB Cormark Capital Markets boosted their price objective on shares of 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. Three investment 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 a consensus target price of C$38.67.

Magellan Aerospace Stock Performance

The company has a current ratio of 2.52, a quick ratio of 1.55 and a debt-to-equity ratio of 11.18. The stock's 50 day moving average price is C$34.92 and its two-hundred day moving average price is C$28.43. The firm has a market capitalization of C$1.98 billion, a PE ratio of 33.10, a PEG ratio of -21.36 and a beta of 1.06.

Magellan Aerospace (TSE:MAL - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported C$0.35 earnings per share (EPS) for the quarter. The firm had revenue of C$305.58 million for the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. On average, equities 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. Stockholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace's payout ratio is 19.05%.

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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