Magellan Aerospace (TSE:MAL) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Magellan Aerospace's stock crossed above its 200-day moving average of C$14.25, trading as high as C$17.04 before settling at C$16.95.
• TD Securities upgraded Magellan Aerospace's price target from C$19.00 to C$20.00 and maintained a "buy" rating.
• The company has increased its quarterly dividend from $0.03 to $0.05, representing a yield of 1.2% and an annualized payout of $0.20.

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.25 and traded as high as C$17.04. Magellan Aerospace shares last traded at C$16.95, with a volume of 31,879 shares trading hands.

Analyst Upgrades and Downgrades

Separately, TD Securities lifted their price target on Magellan Aerospace from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd.

Magellan Aerospace Stock Performance

The stock has a 50-day simple moving average of C$17.88 and a 200 day simple moving average of C$14.37. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The company has a market capitalization of C$856.98 million, a PE ratio of 44.32, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Increases Dividend

The company 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 was Monday, June 16th. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Magellan Aerospace's dividend payout ratio (DPR) is presently 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.