Magellan Aerospace (TSE:MAL) Price Target Raised to C$46.00

Magellan Aerospace (TSE:MAL) had its price objective increased by TD from C$45.00 to C$46.00 in a research note published on Wednesday,BayStreet reports. TD currently has a buy rating on the stock.

Magellan Aerospace Price Performance

TSE:MAL opened at C$34.23 on Wednesday. The stock has a market cap of C$1.95 billion, a P/E ratio of 32.60, a PEG ratio of -21.36 and a beta of 0.96. Magellan Aerospace has a one year low of C$15.98 and a one year high of C$45.70. The company has a fifty day moving average price of C$33.34 and a 200 day moving average price of C$29.75. The company has a debt-to-equity ratio of 10.35, a current ratio of 2.51 and a quick ratio of 1.55.

Magellan Aerospace (TSE:MAL) last posted its quarterly earnings results on Tuesday, November 10th. The company reported C$0.35 earnings per share (EPS) for the quarter. Magellan Aerospace had a net margin of 5.72% and a return on equity of 7.85%. The company had revenue of C$300.62 million for the quarter. Analysts anticipate that Magellan Aerospace will post 0.97 earnings per share for the current year.

Magellan Aerospace Announces Dividend

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

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.