Magellan Aerospace (TSE:MAL) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Magellan Aerospace Co. (TSE:MAL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.00 and traded as high as C$10.73. Magellan Aerospace shares last traded at C$10.67, with a volume of 8,532 shares.

Analysts Set New Price Targets

Separately, TD Securities increased their price objective on shares of Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Magellan Aerospace Trading Down 1.2 %

The stock has a market cap of C$609.68 million, a P/E ratio of 35.57, a PEG ratio of -21.36 and a beta of 1.11. The business’s 50 day simple moving average is C$9.97 and its 200 day simple moving average is C$9.00. The company has a debt-to-equity ratio of 12.92, a current ratio of 2.44 and a quick ratio of 1.55.

Magellan Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio is 33.33%.

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.