Magellan Aerospace (TSE:MAL) Hits New 12-Month High – Should You Buy?

Magellan Aerospace Co. (TSE:MAL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$27.07 and last traded at C$26.67, with a volume of 25199 shares traded. The stock had previously closed at C$25.97.

Analyst Ratings Changes

Several equities analysts have commented on MAL shares. TD Securities increased their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded Magellan Aerospace to a “moderate buy” rating in a research note on Monday, April 6th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$25.00.

Magellan Aerospace Trading Up 3.6%

The company’s fifty day moving average is C$22.44 and its 200-day moving average is C$19.70. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 10.77. The firm has a market capitalization of C$1.54 billion, a P/E ratio of 38.99, a P/E/G ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Friday, March 27th. The company reported C$0.18 EPS for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The company had revenue of C$278.33 million for the quarter. As a group, sell-side analysts anticipate that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Magellan Aerospace’s dividend payout ratio is currently 25.36%.

About Magellan Aerospace

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. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.