Magellan Aerospace (TSE:MAL) Shares Break Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Magellan Aerospace shares broke above their 200-day moving average, reaching C$33.75 before closing at C$32.82; the stock has a market capitalization of approximately C$1.87 billion.
• TD raised its price target from C$37.00 to C$45.00 and maintained a “Buy” rating. Three analysts rate the stock a Buy, with a consensus target price of C$38.67.
• The company reported quarterly EPS of C$0.35 on revenue of C$305.58 million and declared a quarterly dividend of C$0.05 per share, equivalent to a 0.6% annual yield.

Shares of Magellan Aerospace Co. (TSE:MAL - Get Free Report) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$31.84 and traded as high as C$33.75. Magellan Aerospace shares last traded at C$32.82, with a volume of 39,668 shares traded.

Analyst Upgrades and Downgrades

Separately, TD boosted their price objective on Magellan Aerospace from C$37.00 to C$45.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Magellan Aerospace currently has a consensus rating of "Buy" and an average target price of C$38.67.

Magellan Aerospace Stock Down 1.8%

The firm's 50 day moving average price is C$33.33 and its two-hundred day moving average price is C$31.84. The company has a market cap of C$1.87 billion, a P/E ratio of 31.26, a price-to-earnings-growth ratio of -21.36 and a beta of 1.03. The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52.

Magellan Aerospace (TSE:MAL - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share (EPS) for the quarter. The company had revenue of C$305.58 million for the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. Equities research analysts anticipate that Magellan Aerospace Co. will post 0.97 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

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

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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