Magellan Aerospace (TSE:MAL) Stock Passes Above 200 Day Moving Average – Time to Sell?

Magellan Aerospace Co. (TSE:MAL) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.67 and traded as high as C$12.72. Magellan Aerospace shares last traded at C$12.62, with a volume of 24,120 shares.

Analyst Upgrades and Downgrades

Separately, TD Securities upped their price objective on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a “buy” rating in a report on Monday, March 17th.

Magellan Aerospace Price Performance

The firm has a market capitalization of C$698.20 million, a PE ratio of 36.11, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The business’s 50 day moving average is C$11.49 and its two-hundred day moving average is C$10.67. The company has a debt-to-equity ratio of 11.81, a quick ratio of 1.55 and a current ratio of 2.58.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.79%. Magellan Aerospace’s payout ratio is 28.61%.

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.