TD Issues Positive Forecast for Magellan Aerospace (TSE:MAL) Stock Price

Magellan Aerospace (TSE:MAL) had its price target increased by TD from C$37.00 to C$45.00 in a research note released on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, ATB Cormark Capital Markets lifted their price target on shares of Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$38.67.

Magellan Aerospace Stock Performance

Shares of TSE MAL opened at C$42.79 on Friday. The firm’s 50-day moving average price is C$34.42 and its 200-day moving average price is C$27.88. Magellan Aerospace has a 52-week low of C$15.05 and a 52-week high of C$45.70. The company has a market cap of C$2.44 billion, a PE ratio of 54.16, a PEG ratio of -21.36 and a beta of 1.06. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$305.58 million for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. As a group, analysts anticipate that Magellan Aerospace will post 0.9692308 EPS for the current year.

Magellan Aerospace Announces Dividend

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