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

Key Points

• Magellan Aerospace shares moved above their 200-day moving average, trading as high as C$32.72 and last changing hands at C$32.32. The move came on volume of 36,236 shares.
• Several analysts remain bullish on the stock, with ATB Cormark raising its price target to C$46 and TD Securities lifting its target to C$37. The consensus rating is Buy with an average price target of C$36.00.
• The company recently reported Q1 earnings of C$0.29 per share on revenue of C$285.10 million and also paid a quarterly dividend of C$0.05 per share, implying an annualized yield of 0.6%.

Shares of Magellan Aerospace Co. (TSE:MAL - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.63 and traded as high as C$32.72. Magellan Aerospace shares last traded at C$32.32, with a volume of 36,236 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAL. ATB Cormark Capital Markets increased their target price on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an "outperform" rating in a research report on Tuesday, June 2nd. TD Securities lifted their target price 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. Finally, TD upped their target price on Magellan Aerospace from C$30.00 to C$37.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Magellan Aerospace currently has a consensus rating of "Buy" and a consensus price target of C$36.00.

Magellan Aerospace Trading Up 1.7%

The business's 50 day simple moving average is C$31.35 and its 200 day simple moving average is C$25.63. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55. The company has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 40.91, a price-to-earnings-growth ratio of -21.36 and a beta of 1.04.

Magellan Aerospace (TSE:MAL - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.The firm had revenue of C$285.10 million for the quarter. Research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, June 16th. Magellan Aerospace's dividend payout ratio (DPR) is 25.32%.

About Magellan Aerospace

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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