Magellan Aerospace (TSE:MAL) Sets New 12-Month High – What’s Next?

Magellan Aerospace Co. (TSE:MAL) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$34.77 and last traded at C$34.50, with a volume of 7409 shares. The stock had previously closed at C$33.12.

Wall Street Analyst Weigh In

MAL has been the subject of a number of analyst reports. TD Securities boosted their price objective on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. TD boosted their target price on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, ATB Cormark Capital Markets upped their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$36.00.

Magellan Aerospace Trading Down 1.3%

The firm has a market cap of C$1.92 billion, a P/E ratio of 42.67, a PEG ratio of -21.36 and a beta of 1.01. The company’s 50 day moving average is C$29.35 and its two-hundred day moving average is C$24.38. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. The firm had revenue of C$285.10 million for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%. On average, sell-side analysts predict that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Magellan Aerospace’s payout ratio is currently 25.32%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.