Magellan Aerospace (TSE:MAL) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Magellan Aerospace shares rose above their 200-day moving average, trading as high as C$32.85 versus the C$29.53 average, and last changing hands at C$32.55.
• Analysts maintain a positive outlook: TD and ATB Cormark raised their price targets to C$45 and C$46, respectively. The stock has an average “Buy” rating and a consensus target of C$38.67.
• The company reported quarterly revenue of C$305.58 million and earnings per share of C$0.35, while declaring a C$0.05 quarterly dividend, equivalent to a 0.6% annual yield.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$29.53 and traded as high as C$32.85. Magellan Aerospace shares last traded at C$32.55, with a volume of 37,182 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on MAL. TD lifted their target price on shares of Magellan Aerospace from C$37.00 to C$45.00 and gave the company a "buy" rating in a report on Friday, August 14th. ATB Cormark Capital Markets lifted their price objective on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Magellan Aerospace currently has an average rating of "Buy" and an average target price of C$38.67.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55. The company has a 50 day moving average price of C$35.11 and a 200 day moving average price of C$29.53. The firm has a market cap of C$1.86 billion, a PE ratio of 31.00, a PEG ratio of -21.36 and a beta of 0.89.

Magellan Aerospace (TSE:MAL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. The firm had revenue of C$305.58 million for the quarter. Sell-side analysts expect that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Magellan Aerospace's payout ratio is 19.05%.

Magellan Aerospace Company Profile

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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