Magellan Aerospace (TSE:MAL) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares crossed above their 200-day moving average (200-day MA C$20.37); the stock traded as high as C$24.41 and last traded at C$24.01 on a volume of 30,038 shares.
• Analysts are bullish—ATB Cormark upgraded to "moderate buy" and TD Securities raised its target, leaving a MarketBeat consensus rating of Buy with an average target of C$25.00.
• Recent quarter showed EPS C$0.18 on C$278.33M revenue; the company has a C$1.37B market cap, P/E of 34.8, and a quarterly dividend of $0.05 (annualized yield ~0.8%, DPR 25.36%).

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.37 and traded as high as C$24.41. Magellan Aerospace shares last traded at C$24.01, with a volume of 30,038 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MAL shares. ATB Cormark Capital Markets raised Magellan Aerospace to a "moderate buy" rating in a research note on Monday, April 6th. TD Securities raised their price objective on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace presently has a consensus rating of "Buy" and an average target price of C$25.00.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75. The business has a 50 day simple moving average of C$23.59 and a 200-day simple moving average of C$20.37. The firm has a market cap of C$1.37 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL - Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The company reported C$0.18 EPS for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The firm had revenue of C$278.33 million during the quarter. Equities research analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.8%. Magellan Aerospace's dividend payout ratio (DPR) is 25.36%.

About Magellan Aerospace

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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