Magellan Aerospace (TSE:MAL) Shares Cross Above 200 Day Moving Average - What's Next?

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.41 and traded as high as C$12.20. Magellan Aerospace shares last traded at C$12.15, with a volume of 25,306 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities boosted their target price on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a "buy" rating in a research report on Monday, March 17th.

Magellan Aerospace Trading Up 4.9 %

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 stock's 50-day simple moving average is C$10.91 and its two-hundred day simple moving average is C$10.47. The firm has a market capitalization of C$707.05 million, a P/E ratio of 36.57, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a $0.025 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.10 annualized dividend and a dividend yield of 0.78%. Magellan Aerospace's payout ratio is 28.61%.

Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.