Magellan Aerospace (TSE:MAL) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.25 and traded as high as C$17.04. Magellan Aerospace shares last traded at C$16.95, with a volume of 31,879 shares.

Wall Street Analyst Weigh In

Separately, TD Securities boosted their target price on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd.

Magellan Aerospace Trading Down 0.6%

The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The company has a market capitalization of C$937.75 million, a price-to-earnings ratio of 48.50, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The business has a fifty day moving average price of C$17.97 and a 200 day moving average price of C$14.25.

Magellan Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were given a dividend of $0.05 per share. This is an increase from Magellan Aerospace’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 16th. Magellan Aerospace’s dividend payout ratio (DPR) is currently 28.61%.

Magellan Aerospace Company Profile

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services.