Magellan Aerospace (TSE:MAL) Sets New 1-Year High on Analyst Upgrade

Shares of Magellan Aerospace Co. (TSE:MAL) reached a new 52-week high during trading on Monday after TD raised their price target on the stock from C$30.00 to C$37.00. TD currently has a buy rating on the stock. Magellan Aerospace traded as high as C$34.34 and last traded at C$34.29, with a volume of 73464 shares traded. The stock had previously closed at C$31.96.

MAL has been the topic of a number of other research reports. TD Securities upped their price objective on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets boosted their target price on 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$36.00.

Magellan Aerospace Trading Up 7.3%

The company’s 50 day moving average price is C$26.33 and its 200 day moving average price is C$22.41. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55. The firm has a market cap of C$1.96 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of -21.36 and a beta of 1.01.

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

Magellan Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Magellan Aerospace’s dividend payout ratio (DPR) 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.