Magellan Aerospace (TSE:MAL) Stock Passes Above 200-Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.52 and traded as high as C$10.07. Magellan Aerospace shares last traded at C$10.07, with a volume of 4,103 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities boosted their price target on 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 Price Performance

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 stock’s 50 day simple moving average is C$10.39 and its 200-day simple moving average is C$9.53. The firm has a market cap of C$597.11 million, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Dividend Announcement

The firm also recently declared 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 0.96%. Magellan Aerospace’s dividend payout ratio (DPR) is presently 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.