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

Magellan Aerospace Co. (TSE:MAL) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$9.89 and traded as high as C$10.17. Magellan Aerospace shares last traded at C$10.04, with a volume of 8,094 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Securities lifted their target price on shares of 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 Stock Up 2.4 %

The firm has a 50-day moving average of C$9.92 and a two-hundred day moving average of C$9.89. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The company has a market capitalization of C$555.46 million, a PE ratio of 28.73, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, December 17th. Magellan Aerospace’s payout ratio is 28.61%.

About Magellan Aerospace

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.