Magellan Aerospace Co. (TSE:MAL – Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as C$34.30 and last traded at C$31.81, with a volume of 58450 shares changing hands. The stock had previously closed at C$32.69.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on MAL shares. TD raised their price objective on Magellan Aerospace from C$27.00 to C$30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. ATB Cormark Capital Markets raised Magellan Aerospace to a “moderate buy” rating in a report on Monday, April 6th. Finally, TD Securities raised their price objective on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$27.50.
View Our Latest Stock Analysis on MAL
Magellan Aerospace Stock Performance
Magellan Aerospace (TSE:MAL – Get Free Report) last released its quarterly earnings data 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 for the quarter. Equities research analysts anticipate that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.
Magellan Aerospace Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given 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, March 17th. 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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