Magellan Aerospace Co. (TSE:MAL – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$40.51 and last traded at C$39.85, with a volume of 14524 shares changing hands. The stock had previously closed at C$40.36.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. ATB Cormark Capital Markets raised 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 research report on Tuesday, June 2nd. TD boosted their target price 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. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace currently has an average rating of “Buy” and an average target price of C$36.00.
Check Out Our Latest Analysis on MAL
Magellan Aerospace Trading Down 3.8%
Magellan Aerospace (TSE:MAL – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The business had revenue of C$285.10 million during the quarter. Analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.
Magellan Aerospace Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, June 16th. Magellan Aerospace’s dividend payout ratio (DPR) 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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