Magellan Aerospace (TSE:MAL) Sets New 52-Week High – Still a Buy?

Magellan Aerospace Co. (TSE:MAL)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$40.51 and last traded at C$39.85, with a volume of 14524 shares trading hands. The stock had previously closed at C$40.36.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD increased their price objective on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research note on Monday, June 8th. ATB Cormark Capital Markets upped their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$36.00.

Magellan Aerospace Stock Performance

The company has a 50-day moving average price of C$33.93 and a two-hundred day moving average price of C$27.54. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The stock has a market capitalization of C$2.15 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of -21.36 and a beta of 1.06.

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

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, June 16th. Magellan Aerospace’s payout ratio is presently 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.