Magellan Aerospace (TSE:MAL) Shares Cross Above 200 Day Moving Average - Here's Why

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.79 and traded as high as C$10.61. Magellan Aerospace shares last traded at C$10.43, with a volume of 5,796 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised their target price on Magellan Aerospace from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Thursday, August 8th.

Magellan Aerospace Stock Down 1.0 %

The firm has a 50 day moving average price of C$9.69 and a two-hundred day moving average price of C$8.80. The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92. The company has a market capitalization of C$590.26 million, a price-to-earnings ratio of 35.07, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 EPS for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The business had revenue of C$242.91 million for the quarter. As a group, sell-side analysts expect that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.10 annualized dividend and a dividend yield of 0.97%. Magellan Aerospace's payout ratio 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.