Magellan Aerospace (TSE:MAL) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$10.53 and traded as high as C$13.43. Magellan Aerospace shares last traded at C$12.83, with a volume of 8,526 shares changing hands.

Analyst Ratings Changes

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

Magellan Aerospace Stock Performance

The firm has a market capitalization of C$709.81 million, a P/E ratio of 36.71, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company has a 50-day moving average of C$11.13 and a 200-day moving average of C$10.53. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Wednesday, March 19th. Magellan Aerospace’s dividend payout ratio is currently 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.