Magellan Aerospace (TSE:MAL) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$9.68 and traded as high as C$10.06. Magellan Aerospace shares last traded at C$9.89, with a volume of 13,681 shares.

Analysts Set New Price Targets

Separately, TD Securities boosted their price target on shares of Magellan Aerospace from C$17.00 to C$18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Magellan Aerospace Trading Down 0.4 %

The company has a current ratio of 2.44, a quick ratio of 1.55 and a debt-to-equity ratio of 12.92. The company has a market cap of C$562.83 million, a PE ratio of 32.83, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a fifty day simple moving average of C$10.36 and a two-hundred day simple moving average of C$9.69.

Magellan Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.025 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.10 annualized dividend and a yield of 1.02%. Magellan Aerospace's dividend payout ratio (DPR) is 33.33%.

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.