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

Key Points

• Magellan Aerospace shares crossed above their 200-day moving average, trading as high as C$24.34 and last at C$24.08 versus the 200‑day MA of C$19.45.
• TD Securities raised its price target to C$25 and gave a Buy rating; MarketBeat’s consensus rating is also Buy with an average target of C$25.00.
• The company reported quarterly results of C$0.18 EPS on C$278.33M revenue and announced a quarterly dividend of C$0.05 (annualized C$0.20, yield ~0.8%).

Magellan Aerospace Co. (TSE:MAL - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$19.45 and traded as high as C$24.34. Magellan Aerospace shares last traded at C$24.08, with a volume of 82,084 shares trading hands.

Analysts Set New Price Targets

Separately, TD Securities raised their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$25.00.

Magellan Aerospace Stock Performance

The stock has a market cap of C$1.37 billion, a PE ratio of 34.90, a P/E/G ratio of -21.36 and a beta of 0.76. The company has a fifty day moving average price of C$22.07 and a 200 day moving average price of C$19.45. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 10.77.

Magellan Aerospace (TSE:MAL - Get Free Report) last released 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%. 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 disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. Magellan Aerospace's payout ratio is currently 25.36%.

Magellan Aerospace Company Profile

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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