Magellan Aerospace (TSE:MAL) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Magellan Aerospace shares rose above their 200-day moving average, reaching C$34.50 and closing at C$34.13, compared with the 200-day average of C$30.57.
• Analysts remain bullish: TD and ATB Cormark raised their price targets to C$45 and C$46, respectively. The stock has a consensus “Buy” rating and an average price target of C$38.67.
• In its latest quarter, Magellan reported C$0.35 in earnings per share and C$305.58 million in revenue; it also paid a quarterly dividend of C$0.05 per share, representing a 0.6% annualized yield.

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$30.57 and traded as high as C$34.50. Magellan Aerospace shares last traded at C$34.13, with a volume of 48,294 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD lifted their price objective on shares of Magellan Aerospace from C$37.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. ATB Cormark Capital Markets increased their target price on Magellan Aerospace from C$31.00 to C$46.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$38.67.

Magellan Aerospace Trading Up 0.1%

The company has a market cap of C$1.95 billion, a PE ratio of 32.50, a PEG ratio of -21.36 and a beta of 0.89. The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52. The company has a 50 day simple moving average of C$34.98 and a two-hundred day simple moving average of C$30.57.

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

Magellan Aerospace Dividend Announcement

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