Magellan Aerospace (TSE:MAL) Stock Price Passes Above Two Hundred Day Moving Average of $0.00

Magellan Aerospace Corp (TSE:MAL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $16.20. Magellan Aerospace shares last traded at $15.67, with a volume of 5,493 shares traded.

Separately, Canaccord Genuity downgraded Magellan Aerospace from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$21.00 to C$20.00 in a report on Monday, May 13th.

The firm has a market capitalization of $959.87 million and a price-to-earnings ratio of 9.97. The company has a debt-to-equity ratio of 11.70, a current ratio of 2.72 and a quick ratio of 1.68. The firm has a fifty day moving average of C$16.48.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, September 13th. Magellan Aerospace’s dividend payout ratio is 24.82%.

About Magellan Aerospace (TSE:MAL)

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine, and aero structure assemblies and components for aerospace markets in Canada, the United States, Europe, and Asia. The company offers aero engines products, including engine frames, compressor and fan cases, turbine cases, shafts, rotor spools, discs and blisks, and gearbox housings; and combustion liners and cases, exhaust frames and systems, engine bypass ducts and frames, acoustically treated exhaust systems, and fan cowl doors, as well as repair and overhaul services.

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