Magellan Aerospace (TSE:MAL) Price Target Raised to C$18.00 at TD Securities

Magellan Aerospace (TSE:MAL) had its target price lifted by TD Securities from C$17.00 to C$18.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Magellan Aerospace Stock Down 1.0 %

Magellan Aerospace stock traded down C$0.11 during mid-day trading on Thursday, hitting C$10.64. The company had a trading volume of 9,648 shares, compared to its average volume of 9,610. The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92. The stock has a market cap of C$607.97 million, a price-to-earnings ratio of 35.83, a PEG ratio of -21.36 and a beta of 1.11. The business has a fifty day moving average of C$9.80 and a 200 day moving average of C$8.88. Magellan Aerospace has a 1 year low of C$7.28 and a 1 year high of C$11.05.

Magellan Aerospace (TSE:MAL) last posted its quarterly earnings data on Tuesday, August 6th. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$242.91 million during the quarter. Magellan Aerospace had a return on equity of 2.30% and a net margin of 1.88%. On average, sell-side analysts expect that Magellan Aerospace will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend 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.