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

Magellan Aerospace Co. (TSE:MAL) passed 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.

Wall Street Analyst Weigh In

Separately, TD Securities increased their price target 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 Stock Down 1.2 %

The firm has a 50 day moving average price of C$9.97 and a 200-day moving average price of 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. The firm has a market cap of C$609.68 million, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given 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 of this dividend is Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio is 33.33%.

Magellan Aerospace Company Profile

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.