Magellan Aerospace Co. (TSE:MAL – Get Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.10 and traded as high as C$35.87. Magellan Aerospace shares last traded at C$34.95, with a volume of 39,253 shares changing hands.
Analyst Upgrades and Downgrades
MAL has been the topic of a number of research analyst reports. ATB Cormark Capital Markets increased their price objective on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. TD raised their price objective on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, TD Securities boosted their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$36.00.
View Our Latest Research Report on MAL
Magellan Aerospace Price Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last released its earnings results on Monday, May 11th. The company reported C$0.29 earnings per share for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.The company had revenue of C$285.10 million during the quarter. As a group, equities research analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.
Magellan Aerospace Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace’s payout ratio is currently 25.32%.
Magellan Aerospace Company Profile
Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.
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