Magellan Aerospace (TSE:MAL) Stock Jumps 15% Following Analyst Upgrade

Magellan Aerospace Co. (TSE:MAL)’s stock price was up 15% on Wednesday after TD raised their price target on the stock from C$45.00 to C$46.00. TD currently has a buy rating on the stock. Magellan Aerospace traded as high as C$39.41 and last traded at C$39.36. Approximately 183,770 shares changed hands during mid-day trading, an increase of 230% from the average session volume of 55,683 shares. The stock had previously closed at C$34.22.

Magellan Aerospace Price Performance

The firm has a market cap of C$2.07 billion, a PE ratio of 34.51, a P/E/G ratio of -21.36 and a beta of 0.96. The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55. The business’s fifty day moving average is C$33.29 and its 200-day moving average is C$29.69.

Magellan Aerospace (TSE:MAL) last released its earnings results on Tuesday, November 10th. The company reported C$0.35 earnings per share for the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. The firm had revenue of C$300.62 million for the quarter. On average, research analysts predict that Magellan Aerospace Co. will post 0.97 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 15th. Magellan Aerospace’s payout ratio is 19.05%.

Magellan Aerospace Company Profile

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.