Magellan Aerospace (TSE:MAL) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.32 and traded as high as C$18.06. Magellan Aerospace shares last traded at C$18.06, with a volume of 33,757 shares.

Analyst Upgrades and Downgrades

Separately, TD Securities boosted their price target 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.

Magellan Aerospace Trading Down 0.6%

The company has a market capitalization of C$993.08 million, a PE ratio of 51.36, a PEG ratio of -21.36 and a beta of 1.11. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81. The company has a fifty day simple moving average of C$17.68 and a 200-day simple moving average of C$13.48.

Magellan Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.11%. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. Magellan Aerospace's dividend payout ratio (DPR) is currently 28.61%.

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.