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

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.76 and traded as high as C$10.20. Magellan Aerospace shares last traded at C$10.05, with a volume of 4,145 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities lifted their price objective on Magellan Aerospace from C$17.00 to C$18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Magellan Aerospace Stock Down 0.6 %

The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The firm has a fifty day simple moving average of C$10.30 and a 200-day simple moving average of C$9.77. The company has a market capitalization of C$574.26 million, a PE ratio of 33.50, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$0.10 earnings per share for the quarter. Magellan Aerospace had a return on equity of 2.30% and a net margin of 1.88%. Equities research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.00%. Magellan Aerospace’s dividend payout ratio (DPR) is 33.33%.

About Magellan Aerospace

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.